Resona Asset Management Co. Ltd. lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 678,946 shares of the company’s stock after selling 24,206 shares during the period. Palantir Technologies makes up approximately 0.6% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 22nd biggest holding. Resona Asset Management Co. Ltd.’s holdings in Palantir Technologies were worth $121,462,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Csenge Advisory Group boosted its stake in Palantir Technologies by 13.7% during the 4th quarter. Csenge Advisory Group now owns 28,108 shares of the company’s stock valued at $4,996,000 after purchasing an additional 3,389 shares during the last quarter. Profund Advisors LLC boosted its stake in Palantir Technologies by 5.6% during the 4th quarter. Profund Advisors LLC now owns 217,166 shares of the company’s stock valued at $38,601,000 after purchasing an additional 11,455 shares during the last quarter. ProShare Advisors LLC boosted its stake in Palantir Technologies by 37.6% during the 4th quarter. ProShare Advisors LLC now owns 4,080,082 shares of the company’s stock valued at $725,235,000 after purchasing an additional 1,113,995 shares during the last quarter. HighTower Advisors LLC boosted its stake in Palantir Technologies by 1.9% during the 4th quarter. HighTower Advisors LLC now owns 657,580 shares of the company’s stock valued at $116,885,000 after purchasing an additional 12,445 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Palantir Technologies by 2.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 105,424 shares of the company’s stock valued at $18,739,000 after purchasing an additional 2,679 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.
Analyst Ratings Changes
PLTR has been the subject of a number of analyst reports. Mizuho cut their price target on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Jefferies Financial Group set a $208.00 target price on Palantir Technologies in a research note on Thursday, January 22nd. Rosenblatt Securities boosted their target price on Palantir Technologies from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. UBS Group boosted their target price on Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Robert W. Baird upgraded Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Moderate Buy” and a consensus target price of $195.16.
Insider Transactions at Palantir Technologies
In other news, insider David A. Glazer sold 17,438 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $2,331,809.36. Following the transaction, the insider owned 392,370 shares of the company’s stock, valued at approximately $52,467,716.40. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 493,025 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $860,507,475.24. The trade was a 7.12% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,029,479 shares of company stock valued at $137,685,797. Corporate insiders own 9.53% of the company’s stock.
More Palantir Technologies News
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: PLTR moved higher after strong earnings from Cisco and an improved revenue outlook boosted optimism across the software sector, helping lift Palantir alongside peers. Why Palantir Technologies (PLTR) Stock Is Up Today
- Positive Sentiment: Recent commentary continues to highlight Palantir’s powerful fundamentals, including 85% revenue growth, raised full-year guidance, and expanding demand for government AI solutions. Palantir Technologies Stock (PLTR) Opinions on Recent Earnings and Analyst Upgrades
- Positive Sentiment: Analyst commentary remains constructive, with several firms reiterating buy/outperform views and price targets well above the current share price, reinforcing the bull case for further upside. Palantir Technologies Stock (PLTR) Opinions on Recent Earnings and Analyst Upgrades
Palantir Technologies Stock Up 0.9%
Shares of NASDAQ PLTR opened at $135.14 on Tuesday. Palantir Technologies Inc. has a twelve month low of $118.93 and a twelve month high of $207.52. The stock’s 50 day moving average price is $144.27 and its 200-day moving average price is $159.20. The company has a market capitalization of $323.97 billion, a PE ratio of 151.84, a PEG ratio of 2.13 and a beta of 1.52.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $1.63 billion for 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 business’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. As a group, research analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.
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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