Palantir Technologies Inc. $PLTR Position Lifted by Amundi

Amundi grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,410,400 shares of the company's stock after acquiring an additional 398,093 shares during the period. Palantir Technologies comprises approximately 0.7% of Amundi's holdings, making the stock its 18th biggest position. Amundi owned 0.68% of Palantir Technologies worth $2,400,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Palantir Technologies in a research note on Friday. Wolfe Research upgraded Palantir Technologies from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, June 16th. DA Davidson reissued a "buy" rating and issued a $175.00 price objective on shares of Palantir Technologies in a report on Friday, July 17th. Zacks Research raised Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $138.00 price target on shares of Palantir Technologies in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and three have given 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 $189.88.

Insider Buying and Selling

In related news, insider Jeffrey Buckley sold 1,481 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the sale, the insider directly owned 60,226 shares in the company, valued at $7,757,108.80. The trade was a 2.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 35,000 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $130.00, for a total transaction of $4,550,000.00. Following the completion of the sale, the insider owned 642,786 shares in the company, valued at $83,562,180. The trade was a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,112,270 shares of company stock worth $150,247,785 in the last ninety days. Insiders own 9.53% of the company's stock.

Palantir Technologies News Summary

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

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $123.53 on Wednesday. The stock has a market cap of $296.14 billion, a price-to-earnings ratio of 138.80, a PEG ratio of 2.10 and a beta of 1.56. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $207.52. The stock's 50 day moving average price is $131.24 and its 200 day moving average price is $141.58.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company posted $0.13 EPS. The firm's quarterly revenue was up 84.7% on a year-over-year basis. On average, sell-side analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current year.

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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