How to buy Palantir shares (PLTR) from Australia
This data-driven software provider has filed a direct listing — here's how you can invest.
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One of Silicon Valley's oldest startups is opening the doors to public investors. But revenue data is ambiguous and it reportedly plans to lock 80% of its stock.
Palantir listed on the New York Stock Exchange on September 30 and closed its first day at $US9.50. As it's now public, you can buy shares in Palantir through a share trading platform with access to the US market.
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How to buy shares in Palantir
To buy shares in Palantir you'll need to have a brokerage account that offers US stocks. Compare your options in the table below to find the best fit for you.
- Compare share trading platforms. To buy shares in a US company, you'll need to sign up to a platform with US market access. If you're a beginner, look for a platform with low commissions and investment tools to track your portfolio. Narrow down top brands with our comparison table.
- Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
- Search for Palantir. Find the stock by name or ticker symbol: PLTR. Research its history to confirm it's a solid investment against your financial goals.
- Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Palantir stock reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
- Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs. You may be able to buy a fractional share of Palantir, depending on your broker.
- Check in on your investment. Congratulations, you own a part of Palantir. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.
About the Palantir IPO
Palantir filed an S-1 registration form with the U.S. Securities and Exchange Commission (SEC) to publicly list its shares on the NYSE. It listed on September 30 under the ticker symbol PLTR.
But Palantir didn't offer a traditional IPO. Instead, the stock will be offered as a direct listing, which means it was sold by current Palantir investors rather than created as fresh stock. And multiple reports suggested that Palantir planned to lock up to 80% of its shares.
While we can't speak on behalf of Palantir, companies typically make use of lock-up periods to keep company insiders from flooding the market with shares and destabilising the stock price. No word on how long Palantir's potential lock-up period may last.
What we know about Palantir
Palantir is a software firm that specialises in big data analysis. It was founded in 2003 and is headquartered in Denver, Colorado. It collects and analyses data for private enterprises and government agencies, including the United States Intelligence Community (USIC) and the Department of Defense. Its involvement in national security and government surveillance, coupled with its towering valuation despite never reporting a profit, has earned it quite the reputation.
Palantir is not an accredited business with the Better Business Bureau (BBB) but receives an A rating based on the BBB's criteria that factors in length of time in business, among other considerations.
Like all investments, purchasing stock in Palantir is far from risk-free. The company's financial reporting is ambiguous, and the potential lock-up period could tie up investor funds for months on end. Investors will need to perform their own due diligence and examine Palantir's financial history in greater detail.
Results of similar public offerings
Here's how some similar software firms performed after going public:
Datadog (DDOG) is a SaaS-based data analytics platform that offers data monitoring services for cloud-based applications. It launched on the NASDAQ in September 2019 at $36.15. It saw moderate growth in the six months following its release but began to dramatically climb in April 2020. It peaked at $96.41 in July 2020 and now trades at $83.77.
Splunk (SPLK) is a software firm that monitors machine-generated big data from its headquarters in San Francisco. It went public on the NASDAQ in April 2012 trading at $36.20. Outside a brief spike to $92.75 in 2014, the stock didn’t begin to truly gain traction until early 2018. It saw an all-time high of $211.32 in July 2020 and now trades at $203.62.
Verint (VRNT) specializes in security, surveillance and business intelligence software. It went public on the NASDAQ in 2002 trading at $12.30. With several notable ups and downs over the years, the stock peaked at $64.71 in May 2015. It now trades at $45.80.
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