Palantir Down 20% YTD with SNB’s $1.1B Stake Under Divestment Pressure
Palantir shares have fallen about 20% year-to-date after a 1,600% three-year rally, despite 135% sales growth and newfound profitability driving a forward P/E of 113. The Swiss National Bank’s $1.1 billion position (6.24 million shares) now faces divestment calls over U.S. Immigration and Customs Enforcement surveillance ties.
1. Share Performance and Valuation
Palantir surged approximately 1,600% over the past three years, fueled by artificial intelligence–driven revenue growth of 135% and the company’s first profitable quarters. In 2026, however, the stock retraced roughly 20% as investors questioned whether a forward P/E of 113 already accounts for peak business expectations.
2. SNB Divestment Campaign
The Swiss National Bank holds about 6.24 million Palantir shares valued at $1.1 billion. Activist investors have urged SNB to divest, citing Palantir’s partnerships with U.S. Immigration and Customs Enforcement and potential conflicts with its human rights policy.
3. Growth Prospects and Institutional Pressure
CEO Alex Karp has emphasized built-in safeguards against government overreach in Palantir’s platforms. Nonetheless, investors will watch for any shift in SNB’s position or similar moves by other large institutions, which could influence demand and liquidity for the stock.