Palantir Technologies Inc. $PLTR Stake Raised by Sterling Investment Advisors Ltd.

Key Points

• Sterling Investment Advisors Ltd. increased its Palantir stake by 35.1% in Q1, ending with 31,152 shares worth about $4.56 million.
• Several other institutional investors also boosted or initiated positions, and the article notes that 45.65% of Palantir’s stock is owned by institutions.
• Palantir continues to get positive momentum from government and enterprise adoption, including expanded U.S. Small Business Administration use of its software and bullish analyst coverage; the stock also beat quarterly earnings and revenue expectations.

Sterling Investment Advisors Ltd. raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 35.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,152 shares of the company's stock after acquiring an additional 8,099 shares during the quarter. Sterling Investment Advisors Ltd.'s holdings in Palantir Technologies were worth $4,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLTR. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies during the fourth quarter worth approximately $450,000. Bison Wealth LLC increased its holdings in shares of Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after buying an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC increased its holdings in shares of Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company's stock valued at $1,447,000 after buying an additional 4,722 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Palantir Technologies by 36.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company's stock valued at $858,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Vivaldi Capital Management LP acquired a new stake in shares of Palantir Technologies during the 2nd quarter valued at $315,000. 45.65% of the stock is currently owned by institutional investors.

More Palantir Technologies News

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

• Positive Sentiment: The U.S. Small Business Administration said it is expanding use of Palantir software to strengthen pandemic-fraud detection and enforcement, another example of the company winning mission-critical government work. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Coverage around Palantir’s AI platform and “ontology” technology highlighted continued enterprise adoption, supporting the case that its software is becoming more deeply embedded in customer workflows. Palantir's Ontology Edge Is Redefining AI Software Leadership
• Positive Sentiment: Palantir also drew bullish commentary from investors and analysts who see it as a high-upside growth stock, and a report noted the shares recovered after an early dip, suggesting buyers are still stepping in on weakness. ‘One to Admire,’ Says Top Investor About Palantir Stock

Insider Buying and Selling at Palantir Technologies

In related news, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $128.80, for a total transaction of $190,752.80. Following the completion of the sale, the insider owned 60,226 shares of the company's stock, valued at approximately $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the company's 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 transaction, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. 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. Insiders sold 1,112,270 shares of company stock valued at $150,247,785 in the last quarter. Corporate insiders own 9.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PLTR shares. Mizuho decreased their target price on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. Royal Bank Of Canada reiterated an "underperform" rating and issued a $90.00 price target on shares of Palantir Technologies in a research report on Tuesday, May 5th. Wedbush started coverage on Palantir Technologies in a research note on Tuesday, June 16th. They issued an "outperform" rating on the stock. DA Davidson upgraded Palantir Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $165.00 to $175.00 in a report on Thursday, July 2nd. Finally, DZ Bank started coverage on shares of Palantir Technologies in a research note on Thursday, April 23rd. They set a "buy" rating and a $175.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of "Moderate Buy" and an average target price of $190.85.

Palantir Technologies Stock Performance

Shares of PLTR opened at $133.72 on Wednesday. The company has a market capitalization of $320.57 billion, a PE ratio of 150.25, a PEG ratio of 2.08 and a beta of 1.56. The company's 50 day moving average price is $132.36 and its 200 day moving average price is $145.19. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52.

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

About Palantir Technologies

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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