Canvas Wealth Advisors LLC Has $17.74 Million Stake in Palantir Technologies Inc. $PLTR

Key Points

• Canvas Wealth Advisors increased its Palantir stake by 4.1% in the first quarter, buying 4,755 more shares and bringing its total holdings to 121,288 shares worth about $17.74 million.
• Palantir continues to attract major institutional interest, with several large funds making sizable moves and about 45.65% of the stock now held by institutions.
• The company’s recent results and outlook remain strong: Palantir beat earnings and revenue expectations, analysts currently have a Moderate Buy consensus, and the stock’s average price target is $190.85.

Canvas Wealth Advisors LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,288 shares of the company's stock after purchasing an additional 4,755 shares during the quarter. Palantir Technologies makes up about 3.0% of Canvas Wealth Advisors LLC's investment portfolio, making the stock its 8th largest position. Canvas Wealth Advisors LLC's holdings in Palantir Technologies were worth $17,742,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PLTR. Norges Bank bought a new position in Palantir Technologies in the fourth quarter worth $5,149,641,000. State Street Corp boosted its stake in Palantir Technologies by 7.2% during the third quarter. State Street Corp now owns 101,258,899 shares of the company's stock worth $18,471,648,000 after buying an additional 6,777,771 shares in the last quarter. Cardano Risk Management B.V. increased its holdings in Palantir Technologies by 917.4% in the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company's stock valued at $1,170,596,000 after buying an additional 5,938,343 shares during the period. Corient Private Wealth LLC increased its holdings in Palantir Technologies by 1,449.7% in the 4th quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company's stock valued at $937,205,000 after buying an additional 4,932,364 shares during the period. Finally, Amundi raised its stake in shares of Palantir Technologies by 38.7% in the 3rd quarter. Amundi now owns 15,679,158 shares of the company's stock valued at $2,814,879,000 after buying an additional 4,373,201 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $132.54 on Tuesday. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The company's fifty day moving average is $133.44 and its 200-day moving average is $147.67. The company has a market capitalization of $317.74 billion, a PE ratio of 148.92, a P/E/G ratio of 2.08 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.63 billion for 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%. The firm's quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, analysts forecast that Palantir Technologies Inc. will post 1.16 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of analyst reports. Zacks Research raised shares of Palantir Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Mizuho lowered their target price on shares of Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 14th. BNP Paribas Exane began coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They issued an "underperform" rating for the company. Benchmark cut shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, June 16th. Finally, UBS Group raised Palantir Technologies from a "buy" rating to a "buy" rating in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $190.85.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir announced an expansion agreement with GNP Seguros, its first publicly announced commercial customer in Latin America, highlighting growth beyond government contracts. Article Title
• Positive Sentiment: D.A. Davidson upgraded Palantir to Buy, citing its growing advantage as an AI orchestration layer for enterprises. Article Title
• Neutral Sentiment: Analysts and media commentary continue debating whether Palantir’s recent selloff has made the stock more attractive, with valuation still a key concern. Article Title
• Neutral Sentiment: Some reports highlight ongoing insider selling and valuation worries, which could temper enthusiasm even as the AI growth story remains intact. Article Title
• Negative Sentiment: Recent articles also point to lingering pressure from the UK NHS contract renewal debate, which remains a headline risk for Palantir’s government business. Article Title

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 397,744 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the completion of the transaction, the insider directly owned 199,759 shares in the company, valued at $27,175,214.36. The trade was a 8.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 927,270 shares of company stock valued at $126,197,785. 9.53% of the stock is owned by company insiders.

Palantir Technologies 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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