Cache Advisors LLC Raises Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Cache Advisors LLC increased its Palantir stake by 15.2% in the first quarter, buying 9,124 more shares and bringing its total to 69,078 shares worth about $10.1 million.
• Palantir continues to attract major institutional interest, with firms like Vanguard, State Street, and Geode Capital holding large positions; institutions and hedge funds own 45.65% of the company.
• The company recently beat expectations in its latest quarter, reporting $0.33 EPS and $1.63 billion in revenue, while analysts currently rate the stock Moderate Buy with an average price target of $192.76.

Cache Advisors LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 15.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,078 shares of the company's stock after buying an additional 9,124 shares during the quarter. Palantir Technologies makes up about 1.2% of Cache Advisors LLC's holdings, making the stock its 13th biggest holding. Cache Advisors LLC's holdings in Palantir Technologies were worth $10,105,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 1,557,828 shares during the period. State Street Corp boosted its holdings in shares of Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company's stock worth $18,198,990,000 after purchasing an additional 1,126,418 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock worth $9,599,882,000 after purchasing an additional 805,047 shares during the period. Norges Bank bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $5,149,641,000. Finally, Invesco Ltd. grew its stake in shares of Palantir Technologies by 2.8% in the fourth quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock worth $3,984,281,000 after purchasing an additional 616,297 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Activity

In related news, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $128.80, for a total transaction of $190,752.80. Following the completion of the transaction, the insider directly owned 60,226 shares of the company's stock, valued at $7,757,108.80. This trade represents a 2.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 165,514 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the sale, the insider directly owned 642,786 shares in the company, valued at $87,444,607.44. The trade was a 20.48% decrease in their position. 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. In the last quarter, insiders have sold 927,270 shares of company stock worth $126,197,785. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $116.70 on Wednesday. Palantir Technologies Inc. has a 1 year low of $116.18 and a 1 year high of $207.52. The stock has a market capitalization of $279.77 billion, a P/E ratio of 131.13, a P/E/G ratio of 1.90 and a beta of 1.53. The company's 50-day moving average is $137.49 and its 200 day moving average is $151.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. Palantir Technologies's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of Palantir Technologies in a research report on Friday, June 5th. Benchmark lowered Palantir Technologies to a "hold" rating in a research report on Tuesday, June 16th. Cantor Fitzgerald reissued a "neutral" rating and set a $138.00 target price on shares of Palantir Technologies in a research note on Friday, May 22nd. Phillip Securities upped their target price on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Finally, Weiss Ratings downgraded Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Moderate Buy" and a consensus price target of $192.76.

More Palantir Technologies News

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

• Positive Sentiment: Palantir announced a strategic partnership with Zeta Global to build a unified data and AI infrastructure for enterprise marketing, which analysts say further validates enterprise AI adoption and could create a meaningful long-term commercial opportunity. Palantir partners with Zeta Global on AI-powered marketing infrastructure, Wedbush sees further enterprise validation
• Positive Sentiment: Recent commentary continues to highlight Palantir’s strong growth, profitability, and expanding role in government and commercial AI workloads, reinforcing the long-term bull case. Is This the Best Tech Stock to Buy Before the End of the Year?
• Positive Sentiment: The company also secured a foundational role in the U.S. Army’s Next Generation Command and Control data layer, supporting its defense revenue story. Palantir Secures Foundational Role in NGC2 Data Layer

Palantir Technologies Company Profile

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.

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