This article first appeared on GuruFocus.
QQQ led the ETF activity on Monday, trimming its Palantir (PLTR) position by 438,126 shares, a stake change of -0.91%. ETFs sold a net $64.6 million of the stock, with 14 funds reducing holdings against 28 that added shares, though the buyers traded in smaller amounts. The move followed a net inflow of $11.2 million on Oct. 23 and net selling of $5.2 million on Oct. 22 and $11.8 million on Oct. 21. The selling streak stands at 1 day.
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See all ETF and guru trades in PLTR on its PLTR guru trades page.
Which ETFs sold PLTR on Monday?
The largest sellers by dollar value were QQQ ($87.1 million), IVV ($5.0 million) and IWF ($3.0 million). In all, 28 ETFs added shares and 14 cut them.
QQQ accounted for the bulk of the outflow, with a value change of -$87.1 million, and it holds 47,695,493 shares at a 1.99% weight. IVV cut 25,384 shares (-$5.0 million) and IWF trimmed 15,133 shares (-$3.0 million), while IWY shed 5,875 shares (-$1.2 million). Smaller reductions came from ESGU, OEF, RSP and XLG. Palantir sits in the Technology sector and the Software – Infrastructure industry, with a market cap of $477.6 billion.
Have ETFs been buying or selling PLTR lately?
Over the last 5 reported days, ETFs were net buyers on 1 and net sellers on 4, so the recent trend is mostly selling.
What does PLTR do?
Palantir Technologies builds software platforms that let organizations integrate their data, decisions, and operations at scale.
Palantir reported trailing-12-month revenue of $6.16 billion, up 76.0% over one year, with a gross margin of 84.8% and a net margin of 49.0%. The stock trades at a P/E of 169.28, a P/B of 48.85 and a P/S of 83.01. Its GF Score is 84, and the GF Value of $190.51 compares with a price of $198.73. Palantir has returned 11.8% year to date.
