Palantir Technologies Inc. $PLTR Shares Acquired by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 128.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 679,200 shares of the company’s stock after buying an additional 381,737 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Palantir Technologies were worth $127,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Werba Rubin Papier Wealth Management grew its holdings in shares of Palantir Technologies by 42.4% during the 3rd quarter. Werba Rubin Papier Wealth Management now owns 5,576 shares of the company’s stock worth $1,043,000 after purchasing an additional 1,661 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its position in Palantir Technologies by 211.5% during the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 7,330 shares of the company’s stock worth $1,371,000 after purchasing an additional 4,977 shares in the last quarter. CENTRAL TRUST Co raised its holdings in Palantir Technologies by 1.6% in the third quarter. CENTRAL TRUST Co now owns 10,134 shares of the company’s stock valued at $1,895,000 after buying an additional 156 shares during the period. Fifth Third Bancorp raised its holdings in Palantir Technologies by 5.5% in the third quarter. Fifth Third Bancorp now owns 488,508 shares of the company’s stock valued at $91,375,000 after buying an additional 25,275 shares during the period. Finally, Three Bridge Wealth Advisors LLC purchased a new position in Palantir Technologies in the third quarter valued at approximately $150,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Latest Palantir Technologies News

These are some of the PLTR news items that stood out recently:

• Negative Sentiment: Investors are focused on weaker bookings indicators despite the revenue beat: total contract value reportedly grew just 6% year over year, versus 49% in the prior quarter, while U.S. commercial contract value fell sequentially. These figures raise questions about whether sales momentum can sustain recent growth. Article: Palantir (PLTR) Stock Slips Despite Strong AI Revenue
• Negative Sentiment: Valuation is another headwind: several reports argue that even rapid growth may not justify the stock’s high price, leaving little room for disappointment. Rising dilution is also cited as a concern. Article: Palantir Grew Revenue 96%. The Stock Fell 5%.
• Negative Sentiment: European defense contractor Helsing introduced its Clarity AI platform, which is being trialed by Germany’s military and designed around European sovereignty requirements. It could challenge Palantir for some defense AI business in Europe. Article: Palantir (PLTR) Faces A European Rival In Defense AI

Palantir Technologies Stock Performance

PLTR stock opened at $171.58 on Friday. The firm has a market cap of $412.32 billion, a P/E ratio of 119.99, a price-to-earnings-growth ratio of 3.48 and a beta of 1.65. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $212.94. The stock has a 50-day simple moving average of $185.08 and a 200-day simple moving average of $153.81.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.18 billion. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. Palantir Technologies’s revenue for the quarter was up 95.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Phillip Securities cut shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Barclays increased their price objective on shares of Palantir Technologies from $265.00 to $273.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. Jefferies Financial Group reissued an “underperform” rating and issued a $80.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 4th. Raymond James Financial set a $255.00 target price on shares of Palantir Technologies in a research note on Wednesday, November 4th. Finally, Citigroup lifted their target price on shares of Palantir Technologies from $250.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Moderate Buy” and an average price target of $216.76.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 18,000 shares of the firm’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $201.15, for a total transaction of $3,620,700.00. Following the completion of the sale, the insider directly owned 274,667 shares of the company’s stock, valued at approximately $55,249,267.05. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,250 shares of Palantir Technologies stock in a transaction on Friday, August 21st. The stock was sold at an average price of $174.29, for a total transaction of $217,862.50. Following the sale, the insider directly owned 56,921 shares in the company, valued at $9,920,761.09. This trade represents a 2.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 523,716 shares of company stock valued at $92,212,379. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.