Palantir Technologies Inc. $PLTR Shares Purchased by Geode Capital Management LLC

Key Points

• Geode Capital Management boosted its Palantir stake by 1.5% in the fourth quarter, ending with 54.2 million shares valued at about $9.6 billion. The position makes Palantir its 19th-largest holding.
• Palantir shares were down 3.0% on the day, trading at $132.51, well below both its 50-day and 200-day moving averages. The stock has ranged from a 52-week low of $118.93 to a high of $207.52.
• Despite the pullback, Palantir reported strong quarterly results, with earnings of $0.33 per share and revenue of $1.63 billion, both ahead of estimates. Revenue rose 84.7% year over year, and analysts now expect full-year EPS of 1.18.

Geode Capital Management LLC increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,200,265 shares of the company's stock after acquiring an additional 805,047 shares during the period. Palantir Technologies makes up approximately 0.6% of Geode Capital Management LLC's portfolio, making the stock its 19th biggest holding. Geode Capital Management LLC owned 2.27% of Palantir Technologies worth $9,599,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bare Financial Services Inc grew its holdings in Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after acquiring an additional 55 shares during the period. Morton Brown Family Wealth LLC grew its holdings in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after acquiring an additional 125 shares during the period. United Financial Planning Group LLC acquired a new position in Palantir Technologies during the third quarter worth $32,000. Clayton Financial Group LLC boosted its position in Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Wexford Capital LP purchased a new stake in Palantir Technologies during the third quarter worth $36,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Down 3.0%

NASDAQ PLTR opened at $132.51 on Thursday. The business's 50-day moving average price is $141.86 and its 200 day moving average price is $156.37. Palantir Technologies Inc. has a twelve month low of $118.93 and a twelve month high of $207.52. The company has a market capitalization of $317.67 billion, a PE ratio of 148.89, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm 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%.The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Palantir Technologies News Summary

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

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 319,934 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $43,523,821.36. Following the completion of the sale, the insider owned 592 shares in the company, valued at approximately $80,535.68. This trade represents a 99.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares of the company's stock, valued at approximately $87,444,607.44. This trade represents a 20.48% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 922,524 shares of company stock valued at $125,501,302 over the last three months. Insiders own 9.53% of the company's stock.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their target price on Palantir Technologies from $188.00 to $182.00 in a research report on Tuesday, February 3rd. Robert W. Baird upgraded Palantir Technologies from a "neutral" rating to an "outperform" rating and set a $200.00 target price on the stock in a research report on Tuesday, February 3rd. Phillip Securities boosted their target price on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $200.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 3rd. Finally, Citigroup boosted their target price on Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.76.

Palantir Technologies 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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