MSA Advisors LLC Buys New Shares in Palantir Technologies Inc. $PLTR

Key Points

• MSA Advisors LLC initiated a Palantir position in the first quarter, purchasing 6,422 shares valued at approximately $939,000. The stock represented about 0.3% of the firm’s holdings.
• Institutional investors own 45.65% of Palantir, with several major firms increasing their stakes. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $189.88, although ratings range from “Strong Buy” to “Sell.”
• Palantir reported quarterly earnings and revenue above analyst expectations, with revenue rising 84.7% year over year. However, insiders sold more than 1.1 million shares worth approximately $150.2 million, primarily to cover tax obligations from vested equity awards.

MSA Advisors LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,422 shares of the company's stock, valued at approximately $939,000. Palantir Technologies makes up about 0.3% of MSA Advisors LLC's holdings, making the stock its 24th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in PLTR. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock worth $38,295,188,000 after acquiring an additional 1,557,828 shares during the last quarter. State Street Corp lifted 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 valued at $18,198,990,000 after purchasing an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock valued at $9,599,882,000 after purchasing an additional 805,047 shares during the period. Norges Bank acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $5,149,641,000. Finally, Invesco Ltd. increased its stake in Palantir Technologies by 2.8% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several analyst reports. Wolfe Research raised shares of Palantir Technologies from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, June 16th. President Capital upgraded shares of Palantir Technologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $25.50 to $133.00 in a research report on Monday, June 29th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price objective on shares of Palantir Technologies in a research note on Friday, June 5th. Argus upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a research report on Wednesday, May 6th. Finally, Benchmark downgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $189.88.

Insider Activity

In other Palantir Technologies 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 value of $22,516,524.56. Following the transaction, the insider owned 642,786 shares in the company, valued at approximately $87,444,607.44. This represents a 20.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 $54,109,093.76. Following the completion of the sale, the insider owned 6,432,258 shares of the company's stock, valued at approximately $875,044,378.32. The trade was a 5.82% decrease in their position. 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. Insiders sold a total of 1,112,270 shares of company stock valued at $150,247,785 in the last three months. 9.53% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $123.53 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The stock's 50-day moving average is $131.24 and its two-hundred day moving average is $141.58. The stock has a market cap of $296.14 billion, a PE ratio of 138.80, a price-to-earnings-growth ratio of 2.10 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm's quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Key Palantir Technologies News

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

• Positive Sentiment: Oppenheimer reiterated its Outperform rating and $200 price target, citing the potential for a strong second-quarter earnings beat and another increase to Palantir’s outlook. Oppenheimer earnings expectations
• Positive Sentiment: Analysts and other market commentators expect revenue growth of roughly 85% in the second quarter, with U.S. government demand potentially supporting stronger full-year guidance. Palantir’s artificial-intelligence platform continues to gain traction with government and commercial customers. Palantir earnings outlook
• Positive Sentiment: Technical analysts noted that PLTR had recently reclaimed its 20-day and 50-day moving averages, while a bullish-flag pattern could support a rebound if earnings trigger an upside breakout. Palantir technical forecast

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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