Sunbelt Securities Inc. Increases Stock Position in Palantir Technologies Inc. $PLTR

Sunbelt Securities Inc. grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,772 shares of the company’s stock after purchasing an additional 11,915 shares during the period. Palantir Technologies makes up approximately 1.1% of Sunbelt Securities Inc.’s investment portfolio, making the stock its 13th biggest position. Sunbelt Securities Inc.’s holdings in Palantir Technologies were worth $16,668,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Palantir Technologies during the 4th quarter valued at approximately $5,149,641,000. State Street Corp raised its holdings 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 worth $18,471,648,000 after acquiring an additional 6,777,771 shares in the last quarter. Cardano Risk Management B.V. boosted its position in shares of Palantir Technologies by 917.4% during the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock valued at $1,170,596,000 after acquiring an additional 5,938,343 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Palantir Technologies by 1,449.7% in the fourth quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company’s stock valued at $937,205,000 after purchasing an additional 4,932,364 shares in the last quarter. Finally, Amundi increased its position in Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company’s stock worth $2,814,879,000 after purchasing an additional 4,373,201 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 19,662 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the transaction, the insider directly owned 199,759 shares of the company’s stock, valued at $27,175,214.36. This trade represents a 8.96% 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 Stephen Andrew Cohen sold 319,934 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 592 shares in the company, valued at $80,535.68. This represents a 99.82% 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. Over the last 90 days, insiders sold 927,270 shares of company stock worth $126,197,785. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $128.47 on Friday. The stock’s 50-day simple moving average is $138.18 and its 200-day simple moving average is $152.74. The firm has a market capitalization of $307.98 billion, a price-to-earnings ratio of 144.35, a PEG ratio of 2.07 and a beta of 1.53. Palantir Technologies Inc. has a fifty-two week low of $122.68 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted 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. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Palantir Technologies News Roundup

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

• Positive Sentiment: Wolfe Research upgraded Palantir to Peer Perform from Underperform, citing its AI platform, ontology, and forward-deployed engineers as a strong foundation for enterprise AI growth. Is Palantir Technologies Inc. (PLTR) Becoming the Face of Applied Enterprise AI?
• Positive Sentiment: Recent commentary continues to highlight accelerating U.S. commercial momentum, including rising revenue, more customers, and larger contract wins tied to Palantir’s AIP platform. Palantir’s AIP Momentum Continues to Transform U.S. Commercial Growth
• Positive Sentiment: Some analysts argue Palantir’s rapid growth and strong margins make it hard to ignore, despite valuation concerns, keeping bullish AI sentiment intact. Why This Analyst Says Palantir Stock Is ‘Too Big to Ignore’

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PLTR shares. BTIG Research downgraded shares of Palantir Technologies to a “neutral” rating in a research note on Tuesday. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a report on Friday, June 5th. Oppenheimer assumed coverage on shares of Palantir Technologies in a research report on Thursday, April 30th. They set an “outperform” rating and a $200.00 target price on the stock. BNP Paribas Exane initiated coverage on shares of Palantir Technologies in a report on Tuesday. They issued an “underperform” rating for the company. Finally, HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $205.00 to $151.00 in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

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.