Should You Hold Palantir Technologies (PLTR)?
Scout Investments, Inc, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Scout Mid Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The market advance dominated by large-cap tech stocks broadened out, so mid-and small-cap companies outperformed their large-cap counterparts. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Scout Mid Cap Fund featured stocks like Palantir Technologies Inc. (NYSE:PLTR) in the fourth quarter 2023 investor letter. Headquartered in Denver, Colorado, Palantir Technologies Inc. (NYSE:PLTR) engages in the development of data integration and software solutions. On March 22, 2024, Palantir Technologies Inc. (NYSE:PLTR) stock closed at $24.18 per share. One-month return of Palantir Technologies Inc. (NYSE:PLTR) was 2.63%, and its shares gained 200.75% of their value over the last 52 weeks. Palantir Technologies Inc. (NYSE:PLTR) has a market capitalization of $53.504 billion.
Carillon Scout Mid Cap Fund stated the following regarding Palantir Technologies Inc. (NYSE:PLTR) in its fourth quarter 2023 investor letter:
"Second was another technology stock, Palantir Technologies Inc. (NYSE:PLTR), which rallied earlier in the quarter before pulling back. Sentiment remains positive on Palantir as it has successfully rolled out a new marketing effort called “boot camps” where customers can demo the company’s new artificial intelligence platform (AIP) product. These events have been popular with potential clients, and in many cases it has been reported that customers can develop an artificial intelligence use case in just a few hours. The stock rallied as some expected this successful marketing effort could translate into faster revenue growth. Palantir also landed the coveted National Health Services account in the UK, long rumored, but the delay in the award had weighed on investor sentiment."
A software engineer manipulating a vast network of code on virtual monitors.
Palantir Technologies Inc. (NYSE:PLTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Palantir Technologies Inc. (NYSE:PLTR) was held by 44 hedge fund portfolios, compared to 31 in the previous quarter, according to our database.
We discussed Palantir Technologies Inc. (NYSE:PLTR) in another article and shared the list of tech stocks corporate insiders are dumping. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
