Illinois Municipal Retirement Fund Increases Holdings in Palantir Technologies Inc. $PLTR

Illinois Municipal Retirement Fund increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 22.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 125,695 shares of the company’s stock after buying an additional 22,960 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Palantir Technologies were worth $18,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NFSG Corp grew its position in Palantir Technologies by 8.9% during the first quarter. NFSG Corp now owns 89,462 shares of the company’s stock valued at $13,087,000 after acquiring an additional 7,276 shares during the last quarter. Signet Financial Management LLC lifted its holdings in shares of Palantir Technologies by 9.1% in the 1st quarter. Signet Financial Management LLC now owns 1,742 shares of the company’s stock worth $255,000 after acquiring an additional 146 shares during the last quarter. Opinicus Capital Inc. boosted its stake in shares of Palantir Technologies by 58.2% in the 1st quarter. Opinicus Capital Inc. now owns 1,848 shares of the company’s stock valued at $270,000 after purchasing an additional 680 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its stake in shares of Palantir Technologies by 35.1% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 31,152 shares of the company’s stock valued at $4,557,000 after purchasing an additional 8,099 shares in the last quarter. Finally, Cornerstone Advisory LLC boosted its stake in shares of Palantir Technologies by 7.9% in the 1st quarter. Cornerstone Advisory LLC now owns 5,244 shares of the company’s stock valued at $767,000 after purchasing an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 0.0%

Shares of NASDAQ PLTR opened at $133.76 on Thursday. The firm’s fifty day moving average is $132.36 and its 200 day moving average is $144.76. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The company has a market cap of $320.66 billion, a price-to-earnings ratio of 150.29, a PEG ratio of 2.14 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 net margin of 43.67% and a return on equity of 28.34%. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS. Equities research analysts anticipate that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of analyst reports. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and decreased their target price for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. BTIG Research lowered shares of Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. President Capital raised Palantir Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $25.50 to $133.00 in a research note on Monday, June 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price objective on shares of Palantir Technologies in a report on Friday, June 5th. Finally, DZ Bank started coverage on Palantir Technologies in a research note on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price for the company. Two equities 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. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Moderate Buy” and an average target price of $190.85.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir confirmed its Q2 earnings release date, keeping attention on the upcoming Aug. 3 report and reinforcing the idea that the next catalyst could drive the stock higher if results and guidance are strong. Palantir Stock Climbs After Confirming Q2 Earnings Release
• Positive Sentiment: Recent partnership announcements and analyst commentary have kept Palantir in the spotlight, supporting the view that enterprise and government demand for its AI software remains strong. Palantir Stock in Focus After a Busy Stretch of Partnerships, Analyst Activity
• Positive Sentiment: The U.S. Small Business Administration expanded its use of Palantir software to help detect and prosecute pandemic-era fraud, highlighting continued government adoption of PLTR’s platforms. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Commentary around Palantir’s ontology and enterprise AI leadership suggests investors still see the company as a key beneficiary of AI adoption beyond simple model training. Palantir’s Ontology Edge Is Redefining AI Software Leadership
• Neutral Sentiment: Several articles focused on Palantir’s extremely rich valuation, with one piece asking whether its premium multiple is justified. That may keep debate intense, but it is not a direct business setback. Palantir Trades at 64X Sales. Here’s Whether That Premium Is Justified.
• Neutral Sentiment: Palantir’s CTO accused China’s AI models of being built on stolen U.S. intellectual property, which underscores the company’s hardline AI stance but is more of a geopolitical talking point than a direct earnings driver. Palantir CTO Says China’s AI Models Are Built on “Stolen American IP”
• Negative Sentiment: Some market commentary continues to frame PLTR as overextended versus peers, with articles comparing it unfavorably to Meta and citing concerns about its high multiple and recent volatility. Meta Vs. Palantir: Meta Platforms’ Deep Value Moats Crush Palantir’s Hyper-Inflatated Multiple
• Negative Sentiment: One article said Palantir fell as investors worried about new AI spending from Microsoft and Amazon and competition from Anthropic, suggesting rising competition could pressure sentiment. Why Is Palantir Stock Falling on Tuesday?

Insider Activity

In other news, insider David A. Glazer sold 17,128 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the sale, the insider directly owned 375,242 shares in the company, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the completion of the sale, the insider directly owned 642,786 shares in the company, valued at $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is owned by corporate insiders.

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.