Palantir Technologies Inc. $PLTR Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has increased its stake in Palantir Technologies by 224.0% in the first quarter, acquiring a total of 554,978 shares worth approximately $46.8 million.
• Recent analyst ratings show a consensus rating of "Hold" for Palantir Technologies, with a price target averaging $136.61, reflecting mixed sentiments as some firms rate it as Buy while others are more cautious.
• The company's stock has shown strong performance, reporting $1 billion in revenue and 48% growth year-over-year in its most recent earnings report, exceeding analyst expectations.

Acadian Asset Management LLC raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 224.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 554,978 shares of the company's stock after purchasing an additional 383,677 shares during the quarter. Acadian Asset Management LLC's holdings in Palantir Technologies were worth $46,824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PLTR. Nuveen LLC purchased a new stake in shares of Palantir Technologies in the first quarter valued at approximately $520,232,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Amundi increased its stake in Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after purchasing an additional 3,815,386 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,604,634 shares of company stock worth $245,441,454. 9.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Piper Sandler set a $182.00 price target on Palantir Technologies in a research note on Tuesday, August 5th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Citigroup restated a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and increased their target price for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Trading Up 4.3%

NASDAQ PLTR traded up $7.07 during mid-day trading on Friday, reaching $171.43. 54,323,535 shares of the company's stock traded hands, compared to its average volume of 75,542,352. The company has a fifty day simple moving average of $160.07 and a 200-day simple moving average of $126.87. Palantir Technologies Inc. has a 1-year low of $34.89 and a 1-year high of $190.00. The company has a market cap of $406.69 billion, a price-to-earnings ratio of 571.45, a P/E/G ratio of 9.26 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter last year, the business posted $0.09 EPS. Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Palantir Technologies 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.