Amundi Buys 3,815,386 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Amundi increased its stake in Palantir Technologies by 56.1%, owning approximately 10.6 million shares worth nearly $888 million by the end of the last quarter.
• Palantir reported earnings of $0.16 per share for the last quarter, surpassing analysts' expectations and achieving 48% year-over-year revenue growth to reach $1 billion.
• Several analysts have adjusted their price targets for Palantir, with the consensus rating now at "Hold" and an average target price of $136.61, while some have set targets as high as $200.00.

Amundi boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 56.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,620,301 shares of the company's stock after acquiring an additional 3,815,386 shares during the quarter. Amundi owned approximately 0.45% of Palantir Technologies worth $887,857,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Allegiance Financial Group Advisory Services LLC boosted its holdings in Palantir Technologies by 3.0% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after acquiring an additional 84 shares during the last quarter. Delta Investment Management LLC boosted its holdings in Palantir Technologies by 1.9% in the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock valued at $398,000 after acquiring an additional 90 shares during the last quarter. Sovran Advisors LLC boosted its holdings in Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after acquiring an additional 94 shares during the last quarter. Lodestone Wealth Management LLC boosted its holdings in Palantir Technologies by 1.1% in the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after acquiring an additional 97 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the sale, the insider owned 431,169 shares in the company, valued at $66,602,675.43. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,990,586 shares of company stock worth $295,423,583. 9.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on PLTR shares. Citigroup reissued a "neutral" rating and issued a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and increased their price target for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Trading Up 0.8%

Shares of PLTR stock traded up $1.24 on Thursday, hitting $156.14. 53,197,741 shares of the stock were exchanged, compared to its average volume of 76,056,952. The firm has a market capitalization of $370.42 billion, a P/E ratio of 520.48, a price-to-earnings-growth ratio of 8.73 and a beta of 2.59. The business has a 50-day moving average of $156.55 and a 200 day moving average of $124.44. Palantir Technologies Inc. has a fifty-two week low of $29.50 and a fifty-two week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.Palantir Technologies's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.