COFG Advisors LLC Invests $3.96 Million in Palantir Technologies Inc. $PLTR

Key Points

• COFG Advisors LLC opened a new position in Palantir Technologies in the fourth quarter, buying 22,268 shares worth about $3.96 million. Palantir now makes up 1.0% of the firm’s portfolio and is its 18th-largest holding.
• Institutional interest in PLTR remains strong, with several large investors adding to or holding significant stakes, including Norges Bank, Vanguard, and State Street. Overall, institutional investors and hedge funds own 45.65% of Palantir’s shares.
• Palantir recently posted strong results, beating earnings and revenue estimates with 84.7% year-over-year revenue growth. The stock has also been volatile, with shares trading at $160.65 and analysts maintaining a Moderate Buy consensus price target of $192.76.

COFG Advisors LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,268 shares of the company's stock, valued at approximately $3,958,000. Palantir Technologies accounts for 1.0% of COFG Advisors LLC's investment portfolio, making the stock its 18th biggest holding.

Several other hedge funds have also recently bought and sold shares of PLTR. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter worth about $5,149,641,000. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company's stock worth $39,017,133,000 after acquiring an additional 8,168,604 shares in the last quarter. State Street Corp raised its position in shares of Palantir Technologies by 7.2% during the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company's stock worth $18,471,648,000 after acquiring an additional 6,777,771 shares in the last quarter. Amundi raised its position in shares of Palantir Technologies by 38.7% during the 3rd quarter. Amundi now owns 15,679,158 shares of the company's stock worth $2,814,879,000 after acquiring an additional 4,373,201 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Palantir Technologies by 228.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,182,560 shares of the company's stock worth $945,403,000 after acquiring an additional 3,602,471 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir shares surged as a software sector rally lifted the stock to its best intraday performance in 13 months, with the move helping it finish the week with a double-digit gain. Palantir Rally Renews This ETF's Shine
• Positive Sentiment: Traders are watching for a breakout after a period of consolidation, suggesting momentum investors see room for further upside if the stock clears resistance. Palantir Seen Ready for Next Move Higher
• Positive Sentiment: Coverage highlighting Palantir as one of the best AI stocks to buy, plus bullish commentary from Zacks and other outlets, is reinforcing the view that the company remains a top AI beneficiary. Palantir Technologies (PLTR): One of the Best Stocks to Buy Right Now According to AI
• Positive Sentiment: Multiple reports point to tailwinds from Dell-related AI infrastructure momentum and stronger sentiment across tech stocks, which are helping PLTR trade higher. Why Is Palantir Technologies Stock Trending Higher On Monday?
• Neutral Sentiment: Some commentary argues that a lot of Palantir’s expected growth is already priced in, even though the business is still growing quickly. Is Palantir Still a Millionaire-Maker Stock?
• Negative Sentiment: Bearish opinion pieces warned that Palantir could have room to decline by the end of 2027, reflecting valuation concerns after its big run. Prediction: This Will Be Palantir's Stock Price by the End of 2027

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 19,662 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 value of $2,674,818.48. Following the completion of the transaction, the insider directly owned 199,759 shares in the company, valued at approximately $27,175,214.36. This represents a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the company's stock in a transaction 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 of the company's stock, valued at $875,044,378.32. The trade was a 5.82% 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 922,524 shares of company stock valued at $125,501,302. Company insiders own 9.53% of the company's stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $160.65 on Tuesday. The stock has a fifty day moving average price of $141.80 and a 200 day moving average price of $155.65. The stock has a market cap of $385.13 billion, a PE ratio of 180.51, a P/E/G ratio of 2.48 and a beta of 1.53. Palantir Technologies Inc. has a 1 year low of $118.93 and a 1 year high of $207.52.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLTR. DA Davidson cut their target price on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 5th. Robert W. Baird raised Palantir Technologies from a "neutral" rating to an "outperform" rating and set a $200.00 target price on the stock in a research report on Tuesday, February 3rd. Royal Bank Of Canada reissued an "underperform" rating and set a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. Argus raised Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 target price on the stock in a research report on Wednesday, May 6th. Finally, William Blair raised Palantir Technologies from a "market perform" rating to an "outperform" rating in a research report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $192.76.

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.

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