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

NFSG Corp grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 8.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,462 shares of the company’s stock after purchasing an additional 7,276 shares during the period. Palantir Technologies comprises approximately 2.2% of NFSG Corp’s investment portfolio, making the stock its 11th largest position. NFSG Corp’s holdings in Palantir Technologies were worth $13,087,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter worth approximately $5,149,641,000. State Street Corp boosted its position in Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares in the last quarter. Cardano Risk Management B.V. grew its stake in shares of Palantir Technologies by 917.4% during the fourth quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock worth $1,170,596,000 after buying an additional 5,938,343 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Palantir Technologies by 1,449.7% during the fourth quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company’s stock worth $937,205,000 after buying an additional 4,932,364 shares during the last quarter. Finally, Amundi increased its holdings in shares of Palantir Technologies by 38.7% during the third quarter. Amundi now owns 15,679,158 shares of the company’s stock worth $2,814,879,000 after buying an additional 4,373,201 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLTR has been the subject of a number of research reports. Argus upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Wednesday, May 6th. Wedbush assumed coverage on Palantir Technologies in a research report on Tuesday, June 16th. They set an “outperform” rating on the stock. Benchmark cut Palantir Technologies to a “hold” rating in a report on Tuesday, June 16th. Phillip Securities increased their target price on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Finally, Zacks Research raised Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two investment 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.85.

Key Headlines Impacting Palantir Technologies

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 Stock Performance

Shares of NASDAQ PLTR opened at $133.72 on Wednesday. The company has a market capitalization of $320.57 billion, a P/E ratio of 150.25, a price-to-earnings-growth ratio of 2.08 and a beta of 1.56. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $207.52. The company’s 50 day moving average price is $132.36 and its 200-day moving average price is $145.19.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 84.7% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This trade represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 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 completion of the transaction, the insider directly owned 592 shares of the company’s stock, valued at approximately $80,535.68. This trade represents a 99.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is owned by corporate insiders.

About Palantir Technologies

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.