5 Hot Tech Stocks to Invest in Now

2. Palantir Technologies Inc. (NYSE:PLTR)

3-Month Average Volume: 70.53M

Year-to-date Performance: 47.99%

Number of Hedge Fund Holders: 44

Denver, Colorado-based Palantir Technologies Inc. (NYSE:PLTR) is a leading technology company providing software platforms for big data analytics. It has built three principal software platforms: Gotham, Foundry, and Apollo. These platforms provide the infrastructure needed to integrate data and operations and run the required software in virtually any environment.

On February 5, Palantir Technologies Inc. (NYSE:PLTR) released its financial results for Q4 2023. Its revenue increased by 20% y-o-y to $608 million, while it generated a net income of $93 million. It generated a normalized EPS of $0.08, in-line with consensus estimates.

As of Q4 2024, 44 hedge funds owned Palantir Technologies Inc. (NYSE:PLTR) shares worth a combined total of $1.9 billion. Jim Simons’ Renaissance Technologies was the lead hedge fund shareholder with ownership of 43.6 million shares valued at $748 million.