Panagora Asset Management Inc. Grows Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Panagora Asset Management Inc. increased its stake in Palantir Technologies by 1.2%, now holding 1,672,720 shares worth approximately $141 million as of the latest filing.
• Institutional investors own 45.65% of Palantir's stock, with several funds recently increasing their holdings, including Assenagon Asset Management S.A., which raised its stake by 15.0%.
• Palantir reported $1 billion in revenue for the last quarter, exceeding analyst expectations, while its earnings per share were $0.16, surpassing the consensus estimate of $0.14.

Panagora Asset Management Inc. lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,672,720 shares of the company's stock after purchasing an additional 19,791 shares during the quarter. Palantir Technologies accounts for 0.7% of Panagora Asset Management Inc.'s holdings, making the stock its 28th largest position. Panagora Asset Management Inc. owned 0.07% of Palantir Technologies worth $141,178,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after purchasing an additional 84 shares during the period. Delta Investment Management LLC lifted its holdings in shares of Palantir Technologies by 1.9% during the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock worth $398,000 after purchasing an additional 90 shares during the period. Sovran Advisors LLC lifted its holdings in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after purchasing an additional 94 shares during the period. Lodestone Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after purchasing an additional 97 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the transaction, the insider owned 363,755 shares of the company's stock, valued at $49,219,689.05. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,906,783 shares of company stock valued at $282,471,442 over the last three months. Corporate insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. UBS Group reissued a "neutral" rating and set a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $136.61.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded down $1.41 during mid-day trading on Friday, reaching $156.71. 45,138,872 shares of the company's stock traded hands, compared to its average volume of 84,324,376. The stock has a market cap of $371.77 billion, a P/E ratio of 522.38, a PEG ratio of 8.83 and a beta of 2.59. The business has a 50-day simple moving average of $155.46 and a 200 day simple moving average of $123.48. Palantir Technologies Inc. has a 1-year low of $29.31 and a 1-year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business's revenue was up 48.0% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts anticipate 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.