Profund Advisors LLC raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 217,166 shares of the company’s stock after acquiring an additional 11,455 shares during the period. Palantir Technologies makes up 1.2% of Profund Advisors LLC’s portfolio, making the stock its 13th biggest position. Profund Advisors LLC’s holdings in Palantir Technologies were worth $38,601,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its position in Palantir Technologies by 37.6% during the fourth quarter. ProShare Advisors LLC now owns 4,080,082 shares of the company’s stock valued at $725,235,000 after acquiring an additional 1,113,995 shares during the period. HighTower Advisors LLC boosted its position in shares of Palantir Technologies by 1.9% in the fourth quarter. HighTower Advisors LLC now owns 657,580 shares of the company’s stock worth $116,885,000 after buying an additional 12,445 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Palantir Technologies by 2.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 105,424 shares of the company’s stock worth $18,739,000 after buying an additional 2,679 shares during the period. Verde Capital Management boosted its position in shares of Palantir Technologies by 15.9% in the fourth quarter. Verde Capital Management now owns 26,857 shares of the company’s stock worth $4,774,000 after buying an additional 3,691 shares during the period. Finally, Rockport Wealth LLC boosted its position in shares of Palantir Technologies by 21.6% in the fourth quarter. Rockport Wealth LLC now owns 1,494 shares of the company’s stock worth $266,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.
Analyst Ratings Changes
PLTR has been the subject of several analyst reports. Northland Securities raised Palantir Technologies from a “market perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research report on Tuesday, February 3rd. The Goldman Sachs Group decreased their target price on Palantir Technologies from $188.00 to $182.00 in a research report on Tuesday, February 3rd. DZ Bank initiated coverage on Palantir Technologies in a research report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price for the company. Benchmark initiated coverage on Palantir Technologies in a research report on Wednesday, April 1st. They issued a “hold” rating for the company. Finally, Jefferies Financial Group set a $208.00 target price on Palantir Technologies in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.16.
Insider Transactions at Palantir Technologies
In related news, insider David A. Glazer sold 17,438 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $2,331,809.36. Following the completion of the transaction, the insider owned 392,370 shares of the company’s stock, valued at approximately $52,467,716.40. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 19,988 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $2,672,795.36. Following the completion of the transaction, the insider directly owned 219,421 shares of the company’s stock, valued at $29,340,976.12. This represents a 8.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,029,479 shares of company stock valued at $137,685,797 in the last three months. 9.53% of the stock is currently owned by company insiders.
Palantir Technologies Stock Performance
Shares of PLTR opened at $135.14 on Tuesday. The company has a market capitalization of $323.97 billion, a P/E ratio of 151.84, a P/E/G ratio of 2.13 and a beta of 1.52. Palantir Technologies Inc. has a one year low of $118.93 and a one year high of $207.52. The stock has a 50-day moving average price of $144.27 and a 200 day moving average price of $159.20.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its quarterly 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 firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.Palantir Technologies’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.
Palantir Technologies News Summary
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: PLTR moved higher after strong earnings from Cisco and an improved revenue outlook boosted optimism across the software sector, helping lift Palantir alongside peers. Why Palantir Technologies (PLTR) Stock Is Up Today
- Positive Sentiment: Recent commentary continues to highlight Palantir’s powerful fundamentals, including 85% revenue growth, raised full-year guidance, and expanding demand for government AI solutions. Palantir Technologies Stock (PLTR) Opinions on Recent Earnings and Analyst Upgrades
- Positive Sentiment: Analyst commentary remains constructive, with several firms reiterating buy/outperform views and price targets well above the current share price, reinforcing the bull case for further upside. Palantir Technologies Stock (PLTR) Opinions on Recent Earnings and Analyst Upgrades
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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