Russell Investments Group Ltd. Increases Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Russell Investments Group Ltd. increased its Palantir stake by 31.8% in the fourth quarter, buying 370,778 additional shares and bringing its total holding to 1,534,952 shares valued at about $273.7 million.
• Palantir’s latest quarterly results were strong, with EPS of $0.33 beating estimates and revenue of $1.63 billion topping expectations, while sales surged 84.7% year over year.
• Investor sentiment remains mixed: several analysts maintain bullish or upgraded ratings, but concerns persist about Palantir’s elevated valuation and European political/regulatory headwinds, including a reported French contract loss and a Swiss legal setback.

Russell Investments Group Ltd. lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,534,952 shares of the company's stock after buying an additional 370,778 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Palantir Technologies worth $273,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PLTR. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock worth $38,295,188,000 after acquiring an additional 1,557,828 shares in the last quarter. State Street Corp lifted its holdings in shares of Palantir Technologies by 1.1% in the 4th quarter. State Street Corp now owns 102,385,317 shares of the company's stock worth $18,198,990,000 after acquiring an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock valued at $9,599,882,000 after purchasing an additional 805,047 shares in the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $5,149,641,000. Finally, Invesco Ltd. grew its holdings in shares of Palantir Technologies by 5.9% during the 3rd quarter. Invesco Ltd. now owns 21,798,785 shares of the company's stock valued at $3,976,534,000 after purchasing an additional 1,213,529 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 1.1%

Shares of NASDAQ:PLTR opened at $133.25 on Wednesday. The stock's 50-day moving average price is $138.96 and its 200-day moving average price is $153.27. Palantir Technologies Inc. has a 12-month low of $122.68 and a 12-month high of $207.52. The stock has a market capitalization of $319.44 billion, a P/E ratio of 149.72, a price-to-earnings-growth ratio of 2.14 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion for 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 company's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period last year, the firm earned $0.13 earnings per share. As a group, research 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: Wolfe Research upgraded Palantir Technologies (PLTR) to Peer Perform/Hold, signaling that analysts see less downside risk and still view the company as a major AI enterprise player. This Analyst Just Upgraded Palantir Stock. Here's Why.
• Positive Sentiment: Coverage around Palantir’s recent AI partnerships and customer deployments at AIPCon 10 continues to support the bullish long-term AI-growth narrative. Will New AI Partnerships And Governance Votes At AIPCon 10 Change Palantir Technologies' (PLTR) Narrative
• Neutral Sentiment: Some commentary says Palantir remains a leading enterprise AI software provider, but investors are still debating whether the stock’s recent pullback has made the valuation more reasonable. Palantir Technologies (PLTR) Stock Could Be 25.9% Overvalued After AI Rally
• Neutral Sentiment: Insider selling by Jeffrey Buckley was disclosed, but it was a small sale executed under a pre-arranged 10b5-1 plan, so it is more of a sentiment signal than a major fundamental change. Jeffrey Buckley Sells 1,481 Shares of Palantir Technologies NASDAQ: PLTR Stock
• Negative Sentiment: France’s domestic spy agency is reportedly dropping Palantir in favor of a local rival, adding to concerns that European governments may prefer domestic providers for sensitive data projects. French domestic spy agency ditches Palantir for local rival, PM says
• Negative Sentiment: Palantir also lost a Swiss legal challenge tied to government contract scrutiny and data-sovereignty issues, reinforcing regulatory and political risk in Europe. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe
• Negative Sentiment: Analyst commentary also points to Palantir’s still-stretched valuation, which is limiting upside even after the company’s strong AI momentum and recent upgrades. There’s a Catch,’ Says Top Analyst About Palantir (PLTR) Stock

Analyst Upgrades and Downgrades

Several analysts have weighed in on PLTR shares. Zacks Research raised shares of Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price objective on shares of Palantir Technologies in a research note on Friday, June 5th. BNP Paribas Exane started coverage on Palantir Technologies in a research note on Tuesday. They set an "underperform" rating on the stock. Mizuho reduced their price objective on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 14th. Finally, Citigroup raised their price objective on Palantir Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Moderate Buy" and a consensus target price of $192.76.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 397,744 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 transaction of $54,109,093.76. Following the completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $255,680.00. Following the sale, the director owned 55,022 shares of the company's stock, valued at approximately $8,803,520. This represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 927,270 shares of company stock valued at $126,197,785 in the last quarter. 9.53% of the stock is currently owned by company insiders.

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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