Palantir Technologies Inc. $PLTR Shares Bought by Ilmarinen Mutual Pension Insurance Co

Key Points

• Ilmarinen Mutual Pension Insurance Co significantly increased its holdings in Palantir Technologies, acquiring an additional 235,000 shares, bringing its total to 335,000 shares valued at approximately $28.3 million.
• Recent analyst reports have adjusted price targets for Palantir, with Bank of America setting a new target of $180 and maintaining a "buy" rating.
• Palantir Technologies reported a strong quarterly performance, with a net revenue of $1 billion, exceeding analyst expectations, and an increase of 48.0% year-over-year.

Ilmarinen Mutual Pension Insurance Co lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 235.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 335,000 shares of the company's stock after buying an additional 235,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Palantir Technologies were worth $28,274,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $450,000. Bison Wealth LLC increased its position in Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after buying an additional 4,667 shares in the last quarter. First Manhattan CO. LLC. purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $208,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Palantir Technologies by 120.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 16,583 shares of the company's stock valued at $1,254,000 after acquiring an additional 9,052 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in Palantir Technologies by 12.6% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 17,896 shares of the company's stock worth $1,353,000 after purchasing an additional 2,007 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLTR. UBS Group restated a "neutral" rating and set a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. Citigroup reissued a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Bank of America increased their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $136.61.

Palantir Technologies Price Performance

Shares of PLTR opened at $162.36 on Wednesday. Palantir Technologies Inc. has a 12 month low of $33.62 and a 12 month high of $190.00. The stock's 50-day moving average is $158.03 and its two-hundred day moving average is $125.50. The stock has a market cap of $385.17 billion, a PE ratio of 541.22, a P/E/G ratio of 8.80 and a beta of 2.59.

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

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares of the company's stock, valued at $48,687,874.50. This represents a 10.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,604,634 shares of company stock worth $245,441,454 over the last three months. Insiders own 12.93% of the company's stock.

Palantir Technologies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.