Mediolanum International Funds Ltd Buys 58,192 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Mediolanum International Funds Ltd increased its Palantir stake by 14.3% in Q1, buying 58,192 more shares and bringing its total holdings to 465,754 shares worth about $64.1 million.
• Insider selling continued, with Shyam Sankar and Ryan D. Taylor selling shares in May; the article notes insiders sold 1.11 million shares worth about $150.2 million over the past 90 days.
• Palantir remains a high-growth, high-valuation stock: its latest quarter beat expectations on EPS and revenue, while analysts are split but still show a Moderate Buy consensus with a $190.85 target price.

Mediolanum International Funds Ltd lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 465,754 shares of the company's stock after buying an additional 58,192 shares during the quarter. Palantir Technologies comprises about 0.7% of Mediolanum International Funds Ltd's portfolio, making the stock its 27th largest holding. Mediolanum International Funds Ltd's holdings in Palantir Technologies were worth $64,064,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PLTR. Milestone Asset Management LLC lifted its holdings in Palantir Technologies by 229.5% during the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company's stock worth $10,763,000 after purchasing an additional 42,173 shares during the last quarter. VCI Wealth Management LLC grew its holdings in Palantir Technologies by 42.3% in the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company's stock valued at $2,166,000 after buying an additional 3,621 shares in the last quarter. Vanguard Group Inc. increased its position in Palantir Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock worth $38,295,188,000 after buying an additional 1,557,828 shares during the period. PFA Pension Forsikringsaktieselskab bought a new position in Palantir Technologies during the 4th quarter worth $222,143,000. Finally, Jefferson Bridge Capital LLC bought a new position in Palantir Technologies during the 4th quarter worth $1,322,000. Institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 165,514 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares of the company's stock, valued at approximately $87,444,607.44. This represents a 20.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the sale, the insider owned 199,759 shares in the company, valued at $27,175,214.36. This represents a 8.96% 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 ninety days, insiders sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is owned by company insiders.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

Palantir Technologies Stock Down 1.5%

PLTR stock opened at $132.38 on Friday. The company has a market cap of $317.36 billion, a PE ratio of 148.74, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56. The business has a 50-day simple moving average of $132.20 and a 200 day simple moving average of $144.30. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. Palantir Technologies's revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent research reports. HSBC cut shares of Palantir Technologies from a "buy" rating to a "hold" rating and reduced their target price for the company from $205.00 to $151.00 in a research report on Friday, May 1st. Wedbush started coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an "outperform" rating for the company. BNP Paribas Exane began coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They set an "underperform" rating on the stock. DZ Bank initiated coverage on shares of Palantir Technologies in a report on Thursday, April 23rd. They set a "buy" rating and a $175.00 target price on the stock. Finally, Oppenheimer initiated coverage on Palantir Technologies in a research note on Thursday, April 30th. They issued an "outperform" rating and a $200.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $190.85.

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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