BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Holdings in Palantir Technologies Inc. $PLTR

Key Points

• British Columbia Investment Management Corp increased its stake in Palantir Technologies by 3.2%, owning a total of 402,396 shares valued at approximately $33.96 million.
• Several other institutional investors have also bolstered their investments in Palantir, with Sax Wealth Advisors increasing their stake by 14.7% and Allstate Corp by 20.8% during the same period.
• Insider sales were reported, with Ryan D. Taylor selling over 33,000 shares and Alexander C. Karp selling 222,878 shares, indicating notable movements in ownership among executives.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,396 shares of the company's stock after buying an additional 12,664 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Palantir Technologies were worth $33,962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sax Wealth Advisors LLC grew its stake in Palantir Technologies by 14.7% in the 1st quarter. Sax Wealth Advisors LLC now owns 3,744 shares of the company's stock worth $316,000 after buying an additional 480 shares in the last quarter. Van Hulzen Asset Management LLC boosted its stake in shares of Palantir Technologies by 38.9% in the 1st quarter. Van Hulzen Asset Management LLC now owns 6,648 shares of the company's stock valued at $561,000 after purchasing an additional 1,863 shares in the last quarter. Cunning Capital Partners LP purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at $1,435,000. Strategies Wealth Advisors LLC boosted its stake in shares of Palantir Technologies by 4.8% in the 1st quarter. Strategies Wealth Advisors LLC now owns 12,441 shares of the company's stock valued at $1,050,000 after purchasing an additional 567 shares in the last quarter. Finally, Allstate Corp boosted its stake in shares of Palantir Technologies by 20.8% in the 1st quarter. Allstate Corp now owns 72,900 shares of the company's stock valued at $6,153,000 after purchasing an additional 12,556 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 33,335 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the completion of the transaction, the insider owned 363,755 shares in the company, valued at $49,219,689.05. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,906,783 shares of company stock worth $282,471,442 in the last ninety days. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Up 1.6%

Shares of PLTR opened at $158.74 on Friday. The stock has a market capitalization of $376.59 billion, a P/E ratio of 529.15, a PEG ratio of 8.80 and a beta of 2.60. The firm has a fifty day simple moving average of $153.61 and a two-hundred day simple moving average of $121.77. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00.

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

Analysts Set New Price Targets

PLTR has been the subject of a number of research reports. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. UBS Group restated a "neutral" rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and increased their target price for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their target price for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Finally, Piper Sandler set a $182.00 target price on Palantir Technologies in a 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $136.61.

About Palantir Technologies

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.