NFSG Corp Has $13.09 Million Stock Position in Palantir Technologies Inc. $PLTR

NFSG Corp raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,462 shares of the company’s stock after acquiring an additional 7,276 shares during the quarter. Palantir Technologies comprises 2.2% of NFSG Corp’s holdings, making the stock its 11th largest position. NFSG Corp’s holdings in Palantir Technologies were worth $13,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Palantir Technologies by 0.7% in the fourth 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 last quarter. State Street Corp lifted its holdings in Palantir Technologies by 1.1% during the 4th quarter. State Street Corp now owns 102,385,317 shares of the company’s stock worth $18,198,990,000 after purchasing an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Palantir Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock worth $9,599,882,000 after purchasing an additional 805,047 shares during the last quarter. Norges Bank bought a new stake in Palantir Technologies in the 4th quarter valued at $5,149,641,000. Finally, Invesco Ltd. boosted its stake in Palantir Technologies by 2.8% in the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock valued at $3,984,281,000 after purchasing an additional 616,297 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 2.8%

PLTR opened at $133.72 on Wednesday. The stock has a market capitalization of $320.57 billion, a price-to-earnings ratio of 150.25, a P/E/G ratio of 2.08 and a beta of 1.56. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52. The company has a 50-day simple moving average of $132.36 and a 200 day simple moving average of $145.19.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the transaction, the insider directly owned 60,226 shares of the company’s stock, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider owned 592 shares of the company’s stock, valued at approximately $80,535.68. This represents a 99.82% 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 have sold a total of 1,112,270 shares of company stock worth $150,247,785 in the last three months. Company insiders own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PLTR shares. Weiss Ratings lowered Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. DA Davidson raised shares of Palantir Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $165.00 to $175.00 in a research report on Thursday, July 2nd. BTIG Research cut shares of Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. UBS Group upgraded shares of Palantir Technologies from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Finally, Benchmark lowered shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

Palantir Technologies News Summary

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

• Positive Sentiment: The U.S. Small Business Administration said it is expanding use of Palantir software to strengthen pandemic-fraud detection and enforcement, another example of the company winning mission-critical government work. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Coverage around Palantir’s AI platform and “ontology” technology highlighted continued enterprise adoption, supporting the case that its software is becoming more deeply embedded in customer workflows. Palantir’s Ontology Edge Is Redefining AI Software Leadership
• Positive Sentiment: Palantir also drew bullish commentary from investors and analysts who see it as a high-upside growth stock, and a report noted the shares recovered after an early dip, suggesting buyers are still stepping in on weakness. ‘One to Admire,’ Says Top Investor About Palantir Stock

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.