Cibc World Market Inc. cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 8.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 282,509 shares of the company’s stock after selling 24,682 shares during the quarter. Cibc World Market Inc.’s holdings in Palantir Technologies were worth $50,216,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Palantir Technologies during the fourth quarter valued at $5,149,641,000. Vanguard Group Inc. grew its stake in Palantir Technologies by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after acquiring an additional 8,168,604 shares in the last quarter. State Street Corp grew its stake in Palantir Technologies by 7.2% during the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after acquiring an additional 6,777,771 shares in the last quarter. Amundi raised its holdings in Palantir Technologies by 38.7% in the 3rd quarter. Amundi now owns 15,679,158 shares of the company’s stock valued at $2,814,879,000 after acquiring an additional 4,373,201 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Palantir Technologies by 228.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,182,560 shares of the company’s stock worth $945,403,000 after purchasing an additional 3,602,471 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.
Palantir Technologies Stock Performance
Shares of PLTR stock opened at $141.70 on Friday. The firm’s 50 day moving average price is $141.19 and its 200-day moving average price is $154.99. Palantir Technologies Inc. has a one year low of $118.93 and a one year high of $207.52. The firm has a market cap of $339.70 billion, a P/E ratio of 159.22, a P/E/G ratio of 2.26 and a beta of 1.53.
Analyst Upgrades and Downgrades
PLTR has been the subject of a number of analyst reports. Citigroup upped their price target on Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $138.00 price objective on shares of Palantir Technologies in a research note on Friday, May 22nd. UBS Group upped their target price on Palantir Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a research note on Thursday, May 21st. Finally, Mizuho reduced their price target on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.76.
View Our Latest Report on PLTR
Key Stories Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir announced an expanded partnership with Google Cloud that connects Foundry and AIP with Gemini and BigQuery, and makes Palantir available on Google Cloud Marketplace, which could broaden adoption and distribution. Palantir Announces Availability on Google Cloud Marketplace, Including Two-Way Integrations between BigQuery and Foundry and Deep Connectivity between Gemini and AIP
- Positive Sentiment: The company also unveiled several new enterprise deals at AIPCon 10, including a multi-year partnership with Kirkland & Ellis, a strategic deal with McCarthy Building Companies, and an expansion agreement with GNP Seguros, reinforcing commercial momentum beyond government contracts. GNP Seguros Announces Enterprise Expansion of Palantir Foundry and AIP Across All Lines of Business
- Positive Sentiment: Palantir said customer demos at AIPCon 10 are highlighting real-world deployments of Foundry, AIP, Ontology, and Apollo, which supports the bull case that its AI platform is seeing meaningful usage in production. Palantir Customers Reveal How AI Amplifies Their Tradecraft at AIPCon 10
- Neutral Sentiment: Analysts and commentators are also debating whether recent volatility is just a pause after a strong run or a warning sign that Palantir’s rich valuation leaves little room for error. Is It Time To Reconsider Palantir Technologies (PLTR) After Recent Volatility And Rich Earnings Multiple
- Negative Sentiment: Michael Burry renewed his bearish stance on Palantir, adding to valuation skepticism and likely contributing to some near-term pressure on the stock. Michael Burry Takes Aim at Palantir Stock Again, But He’s Missing the Bigger Picture
- Negative Sentiment: Separate reports also noted criticism of Palantir’s U.K. NHS contract, which keeps regulatory and political risk in focus for investors. Palantir’s £330M NHS deal faces criticism from UK parliamentarians
Insiders Place Their Bets
In other Palantir Technologies news, insider Jeffrey Buckley sold 830 shares of Palantir Technologies stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $137.41, for a total value of $114,050.30. Following the completion of the transaction, the insider directly owned 61,707 shares of the company’s stock, valued at $8,479,158.87. The trade was a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 business’s 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 in the company, valued at $8,803,520. This trade 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. In the last three months, insiders sold 925,789 shares of company stock valued at $126,007,032. Insiders own 9.53% of the company’s stock.
Palantir Technologies Company Profile
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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