Palantir Technologies Inc. $PLTR Stake Boosted by Dorsey Wright & Associates

Key Points

• Dorsey Wright & Associates increased its Palantir stake by 31.6% in the first quarter, buying 30,500 additional shares and bringing its total to 127,096 shares worth about $18.6 million.
• Palantir continues to attract bullish attention from analysts and investors, including a buy rating and $175 price target from DA Davidson, while its Nvidia partnership on sovereign AI is seen as a potential long-term growth driver.
• The company reported strong quarterly results, with EPS of $0.33 and revenue of $1.63 billion, both beating expectations; revenue also jumped 84.7% year over year, even as insiders have recently sold shares.

Dorsey Wright & Associates raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,096 shares of the company's stock after purchasing an additional 30,500 shares during the period. Palantir Technologies accounts for approximately 2.3% of Dorsey Wright & Associates' investment portfolio, making the stock its 9th biggest holding. Dorsey Wright & Associates' holdings in Palantir Technologies were worth $18,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Beaumont Financial Advisors LLC grew its stake in Palantir Technologies by 2.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company's stock worth $527,000 after buying an additional 59 shares during the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of Palantir Technologies by 0.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company's stock valued at $1,890,000 after acquiring an additional 60 shares in the last quarter. Sandbox Financial Partners LLC raised its position in shares of Palantir Technologies by 1.3% in the 4th quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company's stock valued at $873,000 after purchasing an additional 61 shares during the last quarter. San Luis Wealth Advisors LLC boosted its stake in Palantir Technologies by 1.6% in the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company's stock worth $726,000 after purchasing an additional 63 shares in the last quarter. Finally, Monument Capital Management boosted its stake in Palantir Technologies by 1.2% in the 4th quarter. Monument Capital Management now owns 5,341 shares of the company's stock worth $949,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

Palantir Technologies Price Performance

Shares of PLTR stock opened at $132.38 on Friday. The stock has a 50 day simple moving average of $132.20 and a 200-day simple moving average of $144.30. The company has a market cap of $317.36 billion, a price-to-earnings ratio of 148.74, a PEG ratio of 2.15 and a beta of 1.56. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business's revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Analysts anticipate that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 directly owned 592 shares of the company's stock, valued at approximately $80,535.68. The trade was a 99.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the sale, the insider owned 642,786 shares in the company, valued at $87,444,607.44. This trade represents a 20.48% 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 have sold 1,112,270 shares of company stock worth $150,247,785. Insiders own 9.53% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of Palantir Technologies in a research note on Friday, June 5th. BTIG Research lowered Palantir Technologies to a "neutral" rating in a research note on Tuesday, June 16th. Cantor Fitzgerald reiterated a "neutral" rating and set a $138.00 price target on shares of Palantir Technologies in a research note on Friday, May 22nd. Phillip Securities increased their price objective on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Finally, Citigroup raised their price objective on Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Two investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $190.85.

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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