Palantir Technologies Inc. $PLTR Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,200,265 shares of the company’s stock after purchasing an additional 805,047 shares during the period. Palantir Technologies accounts for 0.6% of Geode Capital Management LLC’s portfolio, making the stock its 19th largest position. Geode Capital Management LLC’s holdings in Palantir Technologies were worth $9,599,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PLTR. Vanguard Group Inc. increased its position in shares of Palantir Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after purchasing an additional 1,557,828 shares during the period. State Street Corp increased its position in shares of Palantir Technologies by 7.2% during the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after purchasing an additional 6,777,771 shares during the period. Invesco Ltd. increased its position in shares of Palantir Technologies by 5.9% during the 3rd quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock valued at $3,976,534,000 after purchasing an additional 1,213,529 shares during the period. Northern Trust Corp increased its position in shares of Palantir Technologies by 3.8% during the 3rd quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock valued at $3,846,957,000 after purchasing an additional 769,238 shares during the period. Finally, Amundi increased 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 purchasing an additional 4,373,201 shares during the period. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLTR. 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 report on Tuesday, February 3rd. Benchmark began coverage on Palantir Technologies in a report on Wednesday, April 1st. They issued a “hold” rating on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $138.00 target price on shares of Palantir Technologies in a report on Friday, May 22nd. Freedom Capital upgraded Palantir Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Friday, February 13th. Finally, Loop Capital decreased their target price on Palantir Technologies from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $43,523,821.36. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. The trade was a 99.82% 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 Palantir Technologies 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 transaction, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 922,524 shares of company stock valued at $125,501,302 in the last ninety days. Company insiders own 9.53% of the company’s stock.

Palantir Technologies Trading Down 3.0%

PLTR opened at $132.51 on Thursday. The stock has a market cap of $317.67 billion, a price-to-earnings ratio of 148.89, a PEG ratio of 2.17 and a beta of 1.52. Palantir Technologies Inc. has a 1 year low of $118.93 and a 1 year high of $207.52. The stock has a fifty day moving average price of $141.86 and a 200 day moving average price of $156.37.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm earned $0.13 earnings per share. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

Palantir Technologies 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.