Ascent Group LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,008 shares of the company's stock after acquiring an additional 6,955 shares during the quarter. Ascent Group LLC's holdings in Palantir Technologies were worth $3,734,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock valued at $38,295,188,000 after buying an additional 1,557,828 shares during the period. State Street Corp grew its holdings in Palantir Technologies by 1.1% during the 4th quarter. State Street Corp now owns 102,385,317 shares of the company's stock worth $18,198,990,000 after acquiring an additional 1,126,418 shares during the period. Geode Capital Management LLC grew its holdings in Palantir Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock worth $9,599,882,000 after acquiring an additional 805,047 shares during the period. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $5,149,641,000. Finally, Invesco Ltd. raised its position in shares of Palantir Technologies by 2.8% during the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock valued at $3,984,281,000 after acquiring an additional 616,297 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Palantir Technologies
In other news, Director Lauren Elaina Friedman Stat sold 3,032 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $165.00, for a total transaction of $500,280.00. Following the sale, the director owned 54,107 shares in the company, valued at $8,927,655. This represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the sale, the insider directly owned 592 shares in the company, valued at $80,535.68. This trade represents a 99.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,150,302 shares of company stock valued at $156,197,565 over the last ninety days. 9.53% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on PLTR shares. Roth Capital initiated coverage on Palantir Technologies in a research note on Tuesday, August 4th. They issued a "buy" rating on the stock. UBS Group set a $215.00 target price on Palantir Technologies in a report on Tuesday, August 11th. Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Phillip Securities lifted their price objective on shares of Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. Finally, President Capital upgraded shares of Palantir Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $25.50 to $133.00 in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $192.19.
Check Out Our Latest Stock Report on PLTR
Key Palantir Technologies News
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir’s strong earnings and revenue momentum remain the primary bullish catalysts. The company exceeded quarterly earnings expectations, and analysts and commentators believe continued adoption of its AI software could sustain rapid growth. Palantir Technologies Earnings and Price Momentum
- Positive Sentiment: Articles highlighting Palantir’s real-world efficiency gains and expanding demand for AI software reinforce expectations that its commercial business can continue growing rapidly. Some long-term scenarios see substantial upside if the company maintains strong growth through 2030 and beyond. Palantir AI Software Demand
- Neutral Sentiment: Long-term returns will depend heavily on one factor: how quickly revenue continues to compound. The company may remain a high-quality growth story, but repeating its extraordinary historical stock performance will require sustained execution. Where Palantir Stock Lands in Five Years
- Negative Sentiment: Valuation is the key pressure point. Palantir is described as trading at roughly 74 times sales and about 149–151 times earnings, levels that leave little room for disappointing growth or guidance. Historical comparisons suggest software stocks trading at similar multiples can experience significant declines after investor enthusiasm fades. Palantir Trades at a Historically High Valuation
- Negative Sentiment: Another comparison argues that Palantir appears fully valued relative to other AI software opportunities, while similarly strong companies may offer more attractive valuations. This could encourage profit-taking despite the company’s excellent operating results. AMD and Palantir Buy Sell or Hold Analysis
Palantir Technologies Stock Performance
Shares of PLTR opened at $172.55 on Tuesday. The stock has a 50 day simple moving average of $135.32 and a 200 day simple moving average of $140.01. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $207.52. The firm has a market capitalization of $414.65 billion, a PE ratio of 147.48, a P/E/G ratio of 2.48 and a beta of 1.59.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the company posted $0.16 EPS. The business's quarterly revenue was up 92.8% on a year-over-year basis. Equities research analysts predict that Palantir Technologies Inc. will post 1.26 EPS for the current fiscal year.
Palantir Technologies Profile
(
Free Report)
Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.
Palantir's product portfolio centers on a small number of core platforms.
Further Reading
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