Palantir Technologies Inc. $PLTR is ProShare Advisors LLC's 10th Largest Position

Key Points

• ProShare Advisors increased its Palantir stake by 37.6% in the fourth quarter, making PLTR its 10th largest holding. The fund now owns 4.08 million shares worth about $725.2 million.
• Palantir reported strong quarterly results, with EPS of $0.33 beating estimates and revenue of $1.63 billion topping forecasts. Revenue jumped 84.7% year over year, and the company also raised optimism around its full-year outlook.
• Insider selling was notable, with CEO Alexander Karp and insider Shyam Sankar both selling large blocks of shares in February. Analysts remain mostly constructive overall, with a consensus rating of Moderate Buy and an average price target of $195.16.

ProShare Advisors LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 37.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,080,082 shares of the company's stock after acquiring an additional 1,113,995 shares during the quarter. Palantir Technologies accounts for 1.3% of ProShare Advisors LLC's portfolio, making the stock its 10th biggest holding. ProShare Advisors LLC owned 0.17% of Palantir Technologies worth $725,235,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Occidental Asset Management LLC increased its position in Palantir Technologies by 2.8% during the third quarter. Occidental Asset Management LLC now owns 1,964 shares of the company's stock valued at $358,000 after acquiring an additional 53 shares during the last quarter. Gallacher Capital Management LLC increased its position in Palantir Technologies by 2.2% in the third quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company's stock worth $447,000 after buying an additional 53 shares in the last quarter. Bare Financial Services Inc increased its position in Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after buying an additional 55 shares in the last quarter. AlphaQuest LLC increased its position in Palantir Technologies by 15.8% in the third quarter. AlphaQuest LLC now owns 425 shares of the company's stock worth $78,000 after buying an additional 58 shares in the last quarter. Finally, Beaumont Financial Advisors LLC increased its position in Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company's stock worth $527,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 0.9%

NASDAQ:PLTR opened at $135.14 on Tuesday. Palantir Technologies Inc. has a 12-month low of $118.93 and a 12-month high of $207.52. The stock has a 50-day moving average price of $144.27 and a 200 day moving average price of $159.20. The stock has a market capitalization of $323.97 billion, a P/E ratio of 151.84, a P/E/G ratio of 2.13 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results 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. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter last year, the business posted $0.13 earnings per share. The firm's revenue was up 84.7% on a year-over-year basis. On average, research analysts predict that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Alexander C. Karp sold 493,025 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at approximately $860,507,475.24. This trade represents a 7.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 168,004 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $22,465,494.88. Following the sale, the insider owned 642,786 shares of the company's stock, valued at $85,953,343.92. This represents a 20.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,029,479 shares of company stock valued at $137,685,797 in the last three months. 9.53% of the stock is currently owned by insiders.

Palantir Technologies News Summary

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

• Positive Sentiment: PLTR moved higher after strong earnings from Cisco and an improved revenue outlook boosted optimism across the software sector, helping lift Palantir alongside peers. Why Palantir Technologies (PLTR) Stock Is Up Today
• Positive Sentiment: Recent commentary continues to highlight Palantir’s powerful fundamentals, including 85% revenue growth, raised full-year guidance, and expanding demand for government AI solutions. Palantir Technologies Stock (PLTR) Opinions on Recent Earnings and Analyst Upgrades
• Positive Sentiment: Analyst commentary remains constructive, with several firms reiterating buy/outperform views and price targets well above the current share price, reinforcing the bull case for further upside. Palantir Technologies Stock (PLTR) Opinions on Recent Earnings and Analyst Upgrades

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. Citigroup upped their price target on Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Weiss Ratings cut Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Loop Capital reduced their price target on Palantir Technologies from $230.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, January 30th. DA Davidson reduced their price target on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating for the company in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group reduced their price target on Palantir Technologies from $188.00 to $182.00 in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $195.16.

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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