Geode Capital Management LLC Has $6.75 Billion Stake in Palantir Technologies Inc. $PLTR

Geode Capital Management LLC lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,704,870 shares of the company’s stock after selling 5,723,603 shares during the quarter. Palantir Technologies accounts for about 0.5% of Geode Capital Management LLC’s portfolio, making the stock its 27th biggest position. Geode Capital Management LLC’s holdings in Palantir Technologies were worth $6,748,550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PLTR. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the first quarter worth $25,000. Signature Resources Capital Management LLC acquired a new position in Palantir Technologies in the 2nd quarter worth $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies during the 1st quarter worth about $27,000. 1248 Management LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter valued at about $27,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of Palantir Technologies in the second quarter valued at about $27,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider David A. Glazer sold 81,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $186.39, for a total transaction of $149,112.00. Following the completion of the sale, the director owned 62,087 shares of the company’s stock, valued at approximately $11,572,395.93. The trade was a 1.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,527,750 shares of company stock valued at $234,463,896 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

PLTR stock opened at $190.96 on Wednesday. Palantir Technologies Inc. has a one year low of $58.53 and a one year high of $207.52. The stock has a market cap of $453.02 billion, a price-to-earnings ratio of 454.68, a price-to-earnings-growth ratio of 7.51 and a beta of 2.63. The company has a fifty day moving average price of $179.15 and a two-hundred day moving average price of $155.63.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. Palantir Technologies’s quarterly revenue was up 62.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. HSBC lifted their target price on Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Loop Capital increased their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Palantir Technologies in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Finally, Mizuho raised their price objective on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $173.45.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.