Vident Advisory LLC Purchases 312,910 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Vident Advisory LLC increased its stake in Palantir Technologies by 22% in Q1, owning about 1.73 million shares worth approximately $146.53 million, making it the company's third-largest holding.
• Palantir Technologies experienced a revenue increase of 48% year-over-year, with reported earnings of $0.16 EPS, surpassing analysts' expectations of $0.14 EPS.
• Brokerages have raised their price targets for Palantir, with Loop Capital setting a buy rating and a price target of $180, while UBS suggests a neutral rating with a $165 target, indicating strong analyst interest in the stock.

Vident Advisory LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 22.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,736,086 shares of the company's stock after acquiring an additional 312,910 shares during the quarter. Palantir Technologies makes up 2.1% of Vident Advisory LLC's investment portfolio, making the stock its 3rd largest position. Vident Advisory LLC owned approximately 0.07% of Palantir Technologies worth $146,526,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp increased its holdings in Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after buying an additional 2,998,716 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after buying an additional 4,221,392 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after buying an additional 571,544 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Palantir Technologies by 55.2% during 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 buying an additional 4,748,513 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 222,878 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the transaction, the insider directly owned 363,755 shares in the company, valued at approximately $49,219,689.05. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,906,783 shares of company stock valued at $282,471,442. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

PLTR stock traded down $1.41 during midday trading on Monday, reaching $156.71. 45,138,872 shares of the company's stock traded hands, compared to its average volume of 84,324,376. The company has a market capitalization of $371.77 billion, a P/E ratio of 522.38, a PEG ratio of 8.83 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The business has a 50-day moving average price of $155.46 and a two-hundred day moving average price of $123.48.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLTR. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Citigroup restated a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Company 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.