Palantir Technologies Inc. (PLTR) Shares Surge on Hedge Fund Disclosures

Palantir Technologies Inc. PLTR, +12.05% surged for an intraday record of $18.75, and finished up 12% with a record close at $17.85.


Steven Cohen’s Point72 Asset Management acquired 29.9 million shares, a 2.6% stake and Anchorage Capital Group acquired just under 3 million shares for a 0.3% stake, according to Securities and Exchange Commission filings.


Point72 Asset Management, L.P., is an American hedge fund. SAC Capital Advisors was founded in 1992 and converted its investment operations to the Point72 Asset Management family office in 2014. In 2018, the firm reopened to external investors after a two-year ban and began accepting outside capital. As of 2020, Point72 employs approximately 1,500 people. Point72 has its main office in Stamford, Connecticut, and there are several satellite offices around the world.


Anchorage Capital Group, L.L.C. is a New York-based registered investment adviser founded in 2003. The firm manages private investment funds across the credit, special situations and illiquid investment markets of North America and Europe using an active long and short basis, with particular focus on defaulted and leveraged issuers.


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