Palantir Technologies Inc. $PLTR Position Increased by King Luther Capital Management Corp

Key Points

• King Luther Capital Management boosted its Palantir stake by 34.5% in the fourth quarter, ending with 103,541 shares valued at about $18.4 million.
• Palantir stock was down 3.0% in Thursday trading, opening at $132.51, after recently moving between a 12-month low of $118.93 and a high of $207.52.
• The company’s latest earnings beat expectations, with EPS of $0.33 versus $0.28 expected and revenue of $1.63 billion, up 84.7% year over year; analysts currently hold a Moderate Buy consensus with a $192.76 target price.

King Luther Capital Management Corp increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 34.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,541 shares of the company's stock after acquiring an additional 26,577 shares during the period. King Luther Capital Management Corp's holdings in Palantir Technologies were worth $18,404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Gallacher Capital Management LLC raised its holdings in shares of Palantir Technologies by 2.2% during the third quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company's stock worth $447,000 after acquiring an additional 53 shares in the last quarter. Bare Financial Services Inc raised its holdings in shares of Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after acquiring an additional 55 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Palantir Technologies by 15.8% during the third quarter. AlphaQuest LLC now owns 425 shares of the company's stock worth $78,000 after acquiring an additional 58 shares in the last quarter. Beaumont Financial Advisors LLC raised its holdings in shares of Palantir Technologies by 2.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company's stock worth $527,000 after acquiring an additional 59 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its holdings in shares of Palantir Technologies by 0.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company's stock worth $1,890,000 after acquiring an additional 60 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 3.0%

PLTR stock opened at $132.51 on Thursday. Palantir Technologies Inc. has a twelve month low of $118.93 and a twelve month high of $207.52. The company has a market cap of $317.67 billion, a PE ratio of 148.89, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52. The business's 50-day simple moving average is $141.86 and its 200 day simple moving average is $156.37.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business earned $0.13 earnings per share. The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent research reports. Mizuho cut their price objective on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. Freedom Capital upgraded Palantir Technologies from a "strong sell" rating to a "strong-buy" rating in a report on Friday, February 13th. Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of Palantir Technologies in a research report on Thursday, May 21st. Citigroup increased their target price on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $138.00 price objective on shares of Palantir Technologies in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $192.76.

Insider Buying and Selling at Palantir Technologies

In related news, insider Jeffrey Buckley sold 830 shares of Palantir Technologies stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $137.41, for a total transaction of $114,050.30. Following the sale, the insider directly owned 61,707 shares of the company's stock, valued at $8,479,158.87. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 Palantir Technologies stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $54,109,093.76. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. 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 922,524 shares of company stock valued at $125,501,302 over the last quarter. Company insiders own 9.53% of the company's stock.

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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