Assenagon Asset Management S.A. Increases Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Assenagon Asset Management increased its Palantir stake by 2,496.4% in the second quarter, adding 1.43 million shares to reach 1.49 million shares valued at approximately $174 million. Institutional investors collectively own 45.65% of the company.
• Palantir delivered stronger-than-expected quarterly results: earnings per share came in at $0.41 versus the $0.34 consensus estimate, while revenue reached $1.94 billion, up 92.8% year over year and ahead of expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $190.73, although opinions range from “Strong Buy” to “Sell.” Meanwhile, insiders sold approximately $150.2 million of stock over the past 90 days, and shares trade at a high valuation with a P/E ratio above 133.

Assenagon Asset Management S.A. increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2,496.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,491,567 shares of the company's stock after purchasing an additional 1,434,120 shares during the period. Assenagon Asset Management S.A. owned 0.06% of Palantir Technologies worth $174,021,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Basepoint Wealth LLC purchased a new stake in Palantir Technologies during the fourth quarter worth $29,000. Morton Brown Family Wealth LLC increased its holdings in shares of Palantir Technologies by 250.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after acquiring an additional 125 shares during the period. Cornerstone Financial Management LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at $31,000. Wexford Capital LP purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at $36,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Palantir Technologies in the 4th quarter worth $35,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 1.6%

Shares of PLTR stock opened at $155.92 on Friday. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52. The business's fifty day simple moving average is $131.45 and its 200-day simple moving average is $139.69. The company has a market cap of $373.79 billion, a PE ratio of 133.26, a PEG ratio of 2.42 and a beta of 1.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the firm earned $0.16 EPS. The business's quarterly revenue was up 92.8% on a year-over-year basis. On average, equities analysts forecast that Palantir Technologies Inc. will post 1.21 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.00, for a total value of $255,680.00. Following the completion of the sale, the director directly owned 55,022 shares in the company, valued at approximately $8,803,520. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,481 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares of the company's stock, valued at approximately $7,757,108.80. This represents a 2.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,112,270 shares of company stock valued at $150,247,785 in the last 90 days. 9.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PLTR. BNP Paribas Exane initiated coverage on Palantir Technologies in a research note on Tuesday, June 16th. They set an "underperform" rating for the company. UBS Group upgraded Palantir Technologies from a "buy" rating to a "buy" rating in a research note on Tuesday, June 16th. Oppenheimer downgraded shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Tuesday. Roth Capital began coverage on shares of Palantir Technologies in a research report on Tuesday. They set a "buy" rating for the company. Finally, Argus raised shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $190.73.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Blowout earnings and higher guidance remain the main bullish catalyst. Palantir reported second-quarter revenue of approximately $1.94 billion, up 93% year over year and ahead of the $1.81 billion consensus estimate. U.S. commercial revenue surged 149%, while government revenue rose 90%. The company also raised its full-year revenue, profit and cash-flow outlook, reinforcing expectations for continued AI demand and accelerating growth. Palantir Just Reported a Blowout Quarter and Raised Its Guidance
• Positive Sentiment: Analyst earnings estimates are moving higher. Northland Securities raised its forecasts for several upcoming quarters, including Q3 2026 EPS to $0.30 from $0.27 and Q4 2026 EPS to $0.35 from $0.29. Piper Sandler also assigned an “Overweight” rating, while other analysts said the results make a potential return to $200 more plausible. Palantir Earns Overweight Rating from Piper Sandler
• Positive Sentiment: Founder and investor confidence provides a supportive signal. Peter Thiel continues to own roughly 3% of Palantir, a stake valued at more than $10 billion, suggesting continued conviction in the company’s long-term growth prospects. Peter Thiel Still Owns Roughly 3% of Palantir

About Palantir Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source