Korea Investment CORP Increases Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Korea Investment CORP increased its stake in Palantir Technologies by 20.5% during the 1st quarter, owning 1,726,227 shares valued at approximately $145.7 million.
• Insider transactions included Ryan D. Taylor and Shyam Sankar selling a total of 440,480 shares, resulting in an 8.80% and a 36.56% decrease in their ownership, respectively.
• Recent analyst reports have led to varying price targets for Palantir, with Bank of America raising its target to $180.00, while Royal Bank of Canada set a lower target of $45.00.

Korea Investment CORP boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,726,227 shares of the company's stock after buying an additional 293,485 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Palantir Technologies worth $145,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PLTR. Allegiance Financial Group Advisory Services LLC raised its position in Palantir Technologies by 3.0% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after acquiring an additional 84 shares during the period. Sovran Advisors LLC grew its position in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares in the last quarter. Lodestone Wealth Management LLC lifted its position in Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares during the period. Finally, Kathmere Capital Management LLC boosted its stake in shares of Palantir Technologies by 0.5% during the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after purchasing an additional 99 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Citigroup reissued a "neutral" rating and set a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Bank of America lifted their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group upped their price objective on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $136.61.

Insiders Place Their Bets

In other Palantir Technologies news, Director Eric H. Woersching sold 17,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the transaction, the director directly owned 12,562 shares in the company, valued at $1,624,140.98. This represents a 57.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 529,684 shares of company stock valued at $71,900,350. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Down 1.1%

NASDAQ:PLTR traded down $1.74 during trading hours on Wednesday, reaching $156.01. 217,852,632 shares of the stock were exchanged, compared to its average volume of 92,114,531. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The business has a 50-day moving average of $152.36 and a two-hundred day moving average of $120.64. The company has a market capitalization of $370.11 billion, a price-to-earnings ratio of 520.05, a PEG ratio of 9.81 and a beta of 2.60.

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

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.