AustralianSuper Pty Ltd Has $40.70 Million Stock Position in Palantir Technologies Inc. $PLTR

AustralianSuper Pty Ltd increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 91.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 228,979 shares of the company’s stock after buying an additional 109,285 shares during the period. AustralianSuper Pty Ltd’s holdings in Palantir Technologies were worth $40,701,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. SkyOak Wealth LLC grew its position in shares of Palantir Technologies by 169.5% in the fourth quarter. SkyOak Wealth LLC now owns 6,399 shares of the company’s stock valued at $1,137,000 after purchasing an additional 4,025 shares during the last quarter. Halter Ferguson Financial Inc. acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $774,000. Triton Wealth Management PLLC lifted its position in shares of Palantir Technologies by 9.6% during the 4th quarter. Triton Wealth Management PLLC now owns 4,022 shares of the company’s stock worth $715,000 after purchasing an additional 352 shares during the last quarter. Avantax Planning Partners Inc. boosted its stake in Palantir Technologies by 1.8% during the 4th quarter. Avantax Planning Partners Inc. now owns 9,032 shares of the company’s stock valued at $1,605,000 after purchasing an additional 160 shares during the period. Finally, Conning Inc. grew its holdings in Palantir Technologies by 0.8% in the 4th quarter. Conning Inc. now owns 11,784 shares of the company’s stock valued at $2,095,000 after buying an additional 97 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Analyst optimism remains a tailwind, with Freedom Broker reportedly raising its price target on Palantir to $230 and reiterating a Buy rating after the company’s strong Q1 results. Freedom Broker Lifts Palantir (PLTR) Price Target After Strong Results
• Positive Sentiment: Multiple pieces argue the post-earnings selloff may be overdone, citing Palantir’s rapid revenue growth, expanding commercial adoption, and the view that the AI boom is still early in its cycle. Ignore the Post-Earnings Selloff in Palantir Stock: The AI Revolution Is Just in the ‘Third Inning’
• Positive Sentiment: Palantir’s defense and autonomy ecosystem is also in focus after partner Ondas reported explosive revenue growth and raised guidance, which helps validate Palantir’s presence in fast-growing defense-tech use cases. Palantir-Backed Ondas Stock Soars. Autonomous Drone Company Sees Revenue Grow 1,065%.
• Positive Sentiment: Palantir also got a boost from news that its AI capabilities may be further leveraged in Ukraine’s war effort, reinforcing the company’s strategic relevance in defense and government contracts. Ukraine Will Leverage Palantir’s AI Capabilities In Its War With Russia. This Helps Prove PLTR Stock Will Never Be Irrelevant.
• Neutral Sentiment: Some headlines are highlighting heavier retail selling, insider selling, and valuation concerns, suggesting part of the market still sees PLTR as expensive after its big run. Retail traders are trimming holdings of longtime AI favorite Palantir in a pivot from software stocks
• Neutral Sentiment: Other coverage notes that Google’s expanded DoD AI contract could increase competition for government AI spending, which may pressure sentiment around Palantir’s long-term growth runway. Why Palantir Suddenly Looks Vulnerable After Google’s Move (PLTR)

Palantir Technologies Price Performance

Shares of PLTR stock opened at $133.73 on Friday. Palantir Technologies Inc. has a one year low of $118.93 and a one year high of $207.52. The stock has a fifty day moving average price of $145.01 and a 200 day moving average price of $159.97. The stock has a market cap of $320.59 billion, a P/E ratio of 150.26, a price-to-earnings-growth ratio of 2.06 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Insider Buying and Selling

In other news, insider Jeffrey Buckley sold 1,232 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $129.08, for a total value of $159,026.56. Following the completion of the transaction, the insider directly owned 43,108 shares of the company’s stock, valued at approximately $5,564,380.64. This represents a 2.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 168,004 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $22,465,494.88. Following the transaction, the insider owned 642,786 shares of the company’s stock, valued at $85,953,343.92. This trade represents a 20.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,029,479 shares of company stock worth $137,685,797. Insiders own 9.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PLTR shares. Robert W. Baird raised Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $200.00 price objective for the company in a research report on Tuesday, February 3rd. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Wednesday, May 6th. Mizuho cut their target price on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Rosenblatt Securities increased their price target on shares of Palantir Technologies from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Wedbush restated an “outperform” rating and issued a $230.00 price target on shares of Palantir Technologies in a research report on Tuesday, May 5th. Two research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

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.