Russell Investments Group Ltd. raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,815,471 shares of the company’s stock after purchasing an additional 125,598 shares during the quarter. Russell Investments Group Ltd.’s holdings in Palantir Technologies were worth $339,564,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Palantir Technologies by 0.4% in the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock worth $22,146,030,000 after purchasing an additional 757,322 shares in the last quarter. State Street Corp raised its position in shares of Palantir Technologies by 2.8% during the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company’s stock valued at $12,190,903,000 after purchasing an additional 2,863,874 shares during the period. Bank of America Corp DE lifted its stake in shares of Palantir Technologies by 28.7% during the 1st quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock valued at $2,755,883,000 after buying an additional 4,201,852 shares in the last quarter. Amundi lifted its stake in shares of Palantir Technologies by 2.5% during the 1st quarter. Amundi now owns 16,410,400 shares of the company’s stock valued at $2,400,513,000 after buying an additional 398,093 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Palantir Technologies during the 1st quarter valued at $1,574,111,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.
Palantir Technologies Stock Performance
PLTR opened at $171.58 on Friday. The stock has a market capitalization of $412.32 billion, a price-to-earnings ratio of 119.99, a PEG ratio of 3.48 and a beta of 1.65. The company has a fifty day moving average of $185.08 and a 200 day moving average of $153.81. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $212.94.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company earned $0.21 EPS. The business’s quarterly revenue was up 95.9% compared to the same quarter last year. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.36 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on PLTR shares. Jefferies Financial Group reiterated an “underperform” rating and issued a $80.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 4th. KeyCorp restated a “sector weight” rating on shares of Palantir Technologies in a research report on Wednesday, November 4th. Yorkville Ives began coverage on Palantir Technologies in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $250.00 price objective for the company. Robert W. Baird set a $250.00 target price on Palantir Technologies in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. started coverage on Palantir Technologies in a research note on Thursday, October 29th. They set an “overweight” rating and a $262.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $216.76.
Check Out Our Latest Stock Report on Palantir Technologies
Insider Transactions at Palantir Technologies
In related news, Director Eric H. Woersching sold 1,000 shares of the stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $205.00, for a total transaction of $205,000.00. Following the completion of the transaction, the director directly owned 3,465 shares of the company’s stock, valued at approximately $710,325. This represents a 22.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Friedman Stat sold 1,358 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $186.29, for a total value of $252,981.82. Following the transaction, the director owned 45,044 shares of the company’s stock, valued at $8,391,246.76. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 523,716 shares of company stock valued at $92,212,379. 9.53% of the stock is owned by insiders.
Top Palantir Technologies Stories
Here are a few of the latest stories about PLTR:
- Negative Sentiment: Investors are focused on weaker bookings indicators despite the revenue beat: total contract value reportedly grew just 6% year over year, versus 49% in the prior quarter, while U.S. commercial contract value fell sequentially. These figures raise questions about whether sales momentum can sustain recent growth. Article: Palantir (PLTR) Stock Slips Despite Strong AI Revenue
- Negative Sentiment: Valuation is another headwind: several reports argue that even rapid growth may not justify the stock’s high price, leaving little room for disappointment. Rising dilution is also cited as a concern. Article: Palantir Grew Revenue 96%. The Stock Fell 5%.
- Negative Sentiment: European defense contractor Helsing introduced its Clarity AI platform, which is being trialed by Germany’s military and designed around European sovereignty requirements. It could challenge Palantir for some defense AI business in Europe. Article: Palantir (PLTR) Faces A European Rival In Defense AI
Palantir Technologies Profile
Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.
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