Strs Ohio Acquires Shares of 158,339 Palantir Technologies Inc. $PLTR

Key Points

• Strs Ohio has made a new investment of approximately $13.36 million in Palantir Technologies, acquiring 158,339 shares during the first quarter.
• Palantir Technologies reported a 48% revenue increase year-over-year with a total revenue of $1 billion for the latest quarter, surpassing analysts' expectations.
• Institutional investors now own 45.65% of Palantir's stock, with several firms making new acquisitions and adjustments to their positions in the company during the first quarter.

Strs Ohio bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 158,339 shares of the company's stock, valued at approximately $13,364,000.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new position in Palantir Technologies in the first quarter worth approximately $520,232,000. Price T Rowe Associates Inc. MD grew its stake in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares in the last quarter. Amundi grew its stake in Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after purchasing an additional 3,815,386 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PLTR shares. Cantor Fitzgerald upped their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on Palantir Technologies in a research report on Tuesday, August 5th. Bank of America increased their target price on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Finally, UBS Group reaffirmed a "neutral" rating and set a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $138.28.

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 222,878 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 value of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. The trade was a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,625,634 shares of company stock worth $248,926,404 over the last three months. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

PLTR stock traded down $0.85 during midday trading on Tuesday, reaching $170.36. The stock had a trading volume of 24,633,074 shares, compared to its average volume of 89,263,898. The stock has a market cap of $404.15 billion, a PE ratio of 567.46, a P/E/G ratio of 9.66 and a beta of 2.59. The firm has a fifty day simple moving average of $160.71 and a two-hundred day simple moving average of $128.03. Palantir Technologies Inc. has a 52-week low of $35.71 and a 52-week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS 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.