Palantir Technologies Inc. $PLTR Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management increased its Palantir stake by 2.5% in Q1, ending with 695,823 shares valued at about $100.7 million. The filing highlights continued institutional interest in PLTR.
• Palantir reported a strong quarter, posting $0.33 EPS and $1.63 billion in revenue, both above analyst expectations. Revenue jumped 84.7% year over year, underscoring rapid growth.
• The stock was down 1.6% as of the report, even as several analysts remain constructive with an average Moderate Buy rating and a price target of $190.85. Insider selling and valuation concerns have also added to investor caution.

Resona Asset Management Co. Ltd. boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 695,823 shares of the company's stock after purchasing an additional 16,877 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Palantir Technologies were worth $100,651,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Vanguard Group Inc. boosted its position in Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock valued at $38,295,188,000 after buying an additional 1,557,828 shares during the last quarter. State Street Corp increased its position 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 worth $18,198,990,000 after acquiring an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock worth $9,599,882,000 after acquiring an additional 805,047 shares in the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $5,149,641,000. Finally, Invesco Ltd. boosted its holdings in Palantir Technologies by 2.8% in the fourth quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock valued at $3,984,281,000 after purchasing an additional 616,297 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Down 1.6%

Shares of Palantir Technologies stock opened at $132.22 on Thursday. The business has a 50-day moving average price of $133.05 and a 200 day moving average price of $146.99. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The firm has a market cap of $316.97 billion, a P/E ratio of 148.56, a P/E/G ratio of 2.15 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping 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%.Palantir Technologies's quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Jeffrey Buckley sold 1,481 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $128.80, for a total transaction of $190,752.80. Following the transaction, the insider directly owned 60,226 shares in the company, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 397,744 shares of Palantir Technologies stock in a transaction 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 transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is owned by insiders.

Palantir Technologies News Summary

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

• Positive Sentiment: DA Davidson upgraded Palantir to Buy and set a higher price target, reinforcing the bullish case that the company’s AI platform and defense exposure can support further upside. This Wall Street Analyst Sees 30% Upside in Palantir. Is It Time to Buy the Stock?
• Positive Sentiment: Palantir expanded its commercial footprint in Latin America by signing Mexico’s largest insurer, GNP Seguros, its first publicly announced commercial customer in the region, which supports the growth narrative beyond U.S. government contracts. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
• Positive Sentiment: The company also announced a strategic partnership with SNP to accelerate secure SAP transformations, adding another enterprise-use-case win that could broaden adoption of Palantir’s platform. SNP and Palantir Form Strategic Partnership to Accelerate Secure SAP Transformations
• Neutral Sentiment: Several pieces highlighted Palantir’s growing AI and defense relevance, including its sovereign AI work with Nvidia and commentary that the company is becoming more deeply embedded in long-duration government programs. Nvidia and Palantir Are Bringing Sovereign AI to the U.S. Government. Here's How.
• Negative Sentiment: Shares are sliding as investors worry about intensifying political scrutiny of Palantir’s government business, including reports of possible House action tied to its contracts and criticism of the company’s political posture. Palantir’s real weak spot
• Negative Sentiment: Broader AI and growth-stock weakness is also weighing on PLTR, as traders sell expensive software names amid concerns about slower AI adoption and stretched valuations. What Is Going on With Palantir Stock on Wednesday?
• Negative Sentiment: Recent insider selling, including a large sale by Shyam Sankar, has added to investor caution and reinforced worries that insiders may see the stock as fully valued. Insider trade filing

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Oppenheimer initiated coverage on Palantir Technologies in a research note on Thursday, April 30th. They set an "outperform" rating and a $200.00 price objective for the company. BNP Paribas Exane assumed coverage on Palantir Technologies in a research report on Tuesday, June 16th. They issued an "underperform" rating on the stock. UBS Group upgraded Palantir Technologies from a "buy" rating to a "buy" rating in a research note on Tuesday, June 16th. Citigroup raised their price target 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, Weiss Ratings lowered shares of Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $190.85.

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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