Palantir Technologies Inc. $PLTR is Caitong International Asset Management Co. Ltd's Largest Position

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its position in Palantir Technologies, raising it by 128,009.9% and making it the firm's largest holding, comprising 10.1% of its portfolio.
• Insiders sold a total of 1,557,750 shares of Palantir Technologies stock worth approximately $239.7 million over the last quarter, indicating potential concerns among company insiders.
• Palantir Technologies reported a 48% increase in revenue year-over-year for the last quarter, surpassing analyst expectations with $1 billion in revenue and an earnings per share (EPS) of $0.16.

Caitong International Asset Management Co. Ltd raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 128,009.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,769 shares of the company's stock after acquiring an additional 103,688 shares during the period. Palantir Technologies makes up 10.1% of Caitong International Asset Management Co. Ltd's portfolio, making the stock its biggest position. Caitong International Asset Management Co. Ltd's holdings in Palantir Technologies were worth $14,146,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its position in Palantir Technologies by 4.2% during the second quarter. Truist Financial Corp now owns 537,000 shares of the company's stock valued at $73,204,000 after acquiring an additional 21,809 shares during the period. Presilium Private Wealth LLC purchased a new stake in shares of Palantir Technologies in the second quarter worth about $204,000. New Century Financial Group LLC purchased a new stake in shares of Palantir Technologies in the second quarter worth about $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Palantir Technologies by 10.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock worth $984,786,000 after buying an additional 1,135,841 shares during the period. Finally, Synergy Asset Management LLC boosted its position in shares of Palantir Technologies by 37.1% in the second quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock worth $1,312,000 after buying an additional 2,606 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at $112,129,506.30. This trade represents a 4.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $186.39, for a total value of $149,112.00. Following the completion of the sale, the director owned 62,087 shares in the company, valued at approximately $11,572,395.93. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,557,750 shares of company stock worth $239,713,896 over the last quarter. Insiders own 9.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PLTR shares. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group upped their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Bank of America upped their target price on Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $141.28.

Palantir Technologies Stock Up 2.8%

Shares of NASDAQ PLTR opened at $180.48 on Friday. The stock's 50 day moving average price is $171.20 and its two-hundred day moving average price is $145.60. Palantir Technologies Inc. has a 52-week low of $40.90 and a 52-week high of $190.00. The stock has a market capitalization of $428.16 billion, a P/E ratio of 601.62, a PEG ratio of 9.51 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The company 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%.The business's revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Company Profile

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.

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