Cvfg LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 1,679.9% during the 1st quarter, HoldingsChannel reports. The fund owned 36,399 shares of the company’s stock after acquiring an additional 34,354 shares during the quarter. Cvfg LLC’s holdings in Palantir Technologies were worth $5,324,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Palantir Technologies during the fourth quarter worth about $5,149,641,000. State Street Corp grew its stake in shares of Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares during the period. Cardano Risk Management B.V. increased its holdings in shares of Palantir Technologies by 917.4% during the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock worth $1,170,596,000 after buying an additional 5,938,343 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Palantir Technologies by 1,449.7% during the 4th quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company’s stock worth $937,205,000 after buying an additional 4,932,364 shares during the last quarter. Finally, Amundi raised its position in shares of Palantir Technologies by 38.7% during the 3rd quarter. Amundi now owns 15,679,158 shares of the company’s stock valued at $2,814,879,000 after buying an additional 4,373,201 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.
Insider Activity at Palantir Technologies
In other news, insider Jeffrey Buckley sold 1,481 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $128.80, for a total transaction of $190,752.80. Following the sale, the insider owned 60,226 shares of the company’s stock, valued at approximately $7,757,108.80. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $160.00, for a total transaction of $255,680.00. Following the completion of the transaction, the director directly owned 55,022 shares of the company’s stock, valued at approximately $8,803,520. The trade was a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is owned by company insiders.
Key Headlines Impacting Palantir Technologies
- Positive Sentiment: Palantir announced an expansion agreement with GNP Seguros, giving it its first publicly announced commercial customer in Latin America and underscoring international growth potential. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
- Positive Sentiment: DA Davidson upgraded Palantir to Buy, adding analyst credibility to the recent rebound and supporting the view that the stock’s AI platform is gaining value with enterprises. DA Davidson Upgrades Palantir (PLTR) To Buy
- Positive Sentiment: Coverage tied Palantir’s recent move to its expanded Nvidia partnership and stronger sovereign AI positioning, which investors see as a major long-term growth channel in government and critical infrastructure. Palantir’s AI Position Wins New Support From Analysts
- Positive Sentiment: Market commentary also pointed to Palantir’s defense and AI momentum, including new international contract traction and expanding adoption of its software stack, which can fuel expectations for continued revenue growth. Why Palantir Stock Ticked Higher on Tuesday
Palantir Technologies Stock Up 1.4%
NASDAQ:PLTR opened at $134.37 on Wednesday. The stock’s fifty day moving average is $133.27 and its two-hundred day moving average is $147.37. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The stock has a market capitalization of $322.13 billion, a price-to-earnings ratio of 150.98, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company’s revenue was up 84.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, sell-side analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.
Wall Street Analyst Weigh In
PLTR has been the topic of a number of recent analyst reports. Wedbush assumed coverage on Palantir Technologies in a report on Tuesday, June 16th. They issued an “outperform” rating on the stock. BTIG Research cut Palantir Technologies to a “neutral” rating in a research note on Tuesday, June 16th. 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 on the stock. UBS Group raised Palantir Technologies from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Finally, DA Davidson upgraded Palantir Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $165.00 to $175.00 in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.85.
Get Our Latest Analysis on Palantir Technologies
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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