Although many politicians across the United States political spectrum are active stock traders, none of them has so far bought Palantir (NYSE: PLTR) stock, at least not directly, but this might change if the shares of the big data analytics software provider join the S&P 500 index.
Specifically, no U.S. politician has ever purchased Palantir stock, at least not directly, except for Ro Khanna, who has publicly stated that it was a family member trading it, not him, according to the research shared by Nancy Pelosi Stock Tracker in an X post on September 10.
It is also worth noting that Finbold’s U.S. Senators stock trading radar, which alerts about prominent stock trades by the American politicians with verified U.S. Securities and Exchange Commission (SEC) updates, shows no politician trades of Palantir stocks in the past 12 months.
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Palantir stock joining S&P 500
At the same time, Palantir is one of the most prominent contenders to join The S&P 500 Index, or the Standard and Poor’s 500 Index, which is a market-capitalization-weighted index of 500 leading publicly traded companies in the U.S., but also includes other criteria besides market cap.
Indeed, PLTR meets all the criteria necessary for the inclusion in the S&P 500 – being a U.S. company with a market cap of $68 billion, which is well above the required $18 billion, a public float of over 50% of total shares outstanding, as well as high liquidity, positive earnings in the last quarter, and positive earnings in the four latest quarters.
On top of that, Palantir shares have recently received a new Wall Street price target from Bank of America (NYSE: BAC) analyst Mariana Pérez Mora, who has increased her PLTR stock price prediction from $30 to $50, highlighting that the market is grossly underestimating Palantir’s potential:
“We view Palantir’s (PLTR) capabilities, technology, and path forward facing a similar fundamental misunderstanding.”
Interestingly, rumors have long circulated that Palantir might have helped locate Osama bin Laden, the architect of the 9/11 attacks, due to author Mark Bowden writing in his book ‘The Finish’ that Palantir’s software “actually deserves the popular designation ‘Killer App.’”
Moreover, the company’s technology also assisted in finding Mexican drug cartel members who murdered a U.S. Immigration and Customs Enforcement special agent Jaime Zapata back in 2011, as well as locating hackers who installed spyware on the computer of the Dalai Lama.
Palantir stock price analysis
At press time, the price of Palantir shares stood at $34.05, reflecting a decline of 2.36% on the day, a 13.70% increase across the week, as well as gaining 15.90% in the past month, and advancing 105.43% year-to-date (YTD), as per data retrieved on September 11.
All things considered, should PLTR shares join the exclusive company of the S&P 500 index, U.S. politicians like Nancy Pelosi might become more interested in buying them. However, when investing, it is critical to carry out one’s own research and keep up with any Palantir news, e.g., Palantir earnings date and the like, as trends in the stock market can change.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
