Soros Fund Management and Third Point each bought more than 18 million and 2.4 million shares of Palantir respectively.
“Soros Fund Management, run by billionaire investor and philanthropist George Soros, and Third Point, the firm led by occasional activist investor Dan Loeb, both disclosed late Friday that they own shares of Palantir.
The Soros investment was worth about $175.3 million, according to a filing with the Securities and Exchange Commission. That works out to a purchase price of $9.50 a share. Palantir's stock is currently trading at just under $16 a share, so the Soros stake is now valued at about $294 million.
Palantir went public through a direct listing of existing stock on the New York Stock Exchange. That means Palantir didn't need to sell new shares through a more traditional initial public offering. It's how Spotify (SPOT) and Slack (WORK) also started trading on Wall Street.
Shares of Palantir have more than doubled from their so-called reference price of $7.25 a share on the day of the direct listing. Palantir is now worth nearly $30 billion.”
https://www.cnn.com/2020/11/16/investing/palantir-soros-third-point/index.html
Submitted November 16, 2020 at 08:21PM by E_lonui7xz https://ift.tt/3f6dsOT
