Stanley Druckenmiller is Selling These 5 Stocks

In this article, we discuss the 5 stocks that Stanley Druckenmiller is selling. If you want to read our detailed analysis of these stocks, go directly to Stanley Druckenmiller is Selling These 10 Stocks.

5. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 26

Percentage Decrease in Stake During Q3: 60%

Palantir Technologies Inc. (NYSE: PLTR) markets software services for the intelligence community. The company was recently selected by the US Army for the delivery of an intelligence data fabric and analytics solution worth $823 million. 

Latest securities filings reveal that Duquesne Capital owned 1.6 million shares in Palantir Technologies Inc. (NYSE: PLTR) at the end of the third quarter of 2021 worth $39 million.

At the end of the second quarter of 2021, 26 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Palantir Technologies Inc. (NYSE: PLTR), down from 32 in the preceding quarter worth $1.1 billion. 

In its Q4 2020 investor letter, Guardian Fund, an asset management firm, highlighted a few stocks and Palantir Technologies Inc. (NYSE: PLTR) was one of them. Here is what the fund said:

“In October, we bought a stake in Palantir. Earlier, in June, our concentrated Tech Fund, which has a mandate to also buy shares in the secondary market, bought shares of Palantir from insiders, before the direct listing. At the price we bought, the equity had much more upside than downside. Palantir is operating a software platform that functions as the digital infrastructure for data-driven operations and decision making. The software helps to structure and capture context in data of large corporations. Governments are increasingly realizing that they have to deal with serious data challenges and cyber risk. As most governments cannot attract the most talented software engineers, they need private enterprises such as Palantir to help them build solid infrastructure. Foundry, Palantir’s software for enterprises, is used by companiesto make safer cars and airplanes or to accelerate cancer research. The speed to bring new clients on board is improving and revenues will grow faster than expenses. Palantir has a long runway of growth ahead.”