Assetmark Inc. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 380,533 shares of the company’s stock after acquiring an additional 6,668 shares during the period. Assetmark Inc.’s holdings in Palantir Technologies were worth $55,664,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $29,000. Morton Brown Family Wealth LLC grew its holdings in shares of Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after buying an additional 125 shares during the last quarter. Cornerstone Financial Management LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $31,000. Clayton Financial Group LLC raised its holdings in Palantir Technologies by 500.0% in the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.
Palantir Technologies Stock Down 1.5%
Shares of PLTR stock opened at $132.38 on Friday. The company’s fifty day simple moving average is $132.20 and its two-hundred day simple moving average is $144.30. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The stock has a market cap of $317.36 billion, a P/E ratio of 148.74, a PEG ratio of 2.15 and a beta of 1.56.
Key Headlines Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
- Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
- Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article
Wall Street Analysts Forecast Growth
Several research firms recently commented on PLTR. Citigroup increased their price objective on Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of Palantir Technologies in a report on Friday, June 5th. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and dropped their target price for the stock from $205.00 to $151.00 in a report on Friday, May 1st. Benchmark cut Palantir Technologies to a “hold” rating in a report on Tuesday, June 16th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $138.00 price objective on shares of Palantir Technologies in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.85.
Read Our Latest Stock Analysis on Palantir Technologies
Insider Activity at Palantir Technologies
In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the company’s stock in a transaction that occurred on 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 directly owned 55,022 shares in the company, valued at $8,803,520. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider owned 592 shares in the company, valued at $80,535.68. This trade represents a 99.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,112,270 shares of company stock valued at $150,247,785 over the last ninety days. 9.53% of the stock is currently owned by company insiders.
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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