Employees Retirement System of Texas Grows Holdings in Palantir Technologies Inc. $PLTR

Employees Retirement System of Texas raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 4,600.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,474 shares of the company’s stock after purchasing an additional 24,932 shares during the period. Employees Retirement System of Texas’ holdings in Palantir Technologies were worth $4,528,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLTR. Bare Financial Services Inc lifted its holdings in Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. United Financial Planning Group LLC purchased a new position in Palantir Technologies during the third quarter valued at $32,000. Morton Brown Family Wealth LLC lifted its holdings in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares in the last quarter. Clayton Financial Group LLC lifted its position in shares of Palantir Technologies by 500.0% in the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Wexford Capital LP purchased a new position in shares of Palantir Technologies in the third quarter valued at approximately $36,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. The trade was a 99.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 830 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $137.41, for a total transaction of $114,050.30. Following the completion of the sale, the insider directly owned 61,707 shares in the company, valued at $8,479,158.87. This trade represents a 1.33% decrease in their ownership of the stock. 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 922,524 shares of company stock valued at $125,501,302. 9.53% of the stock is currently owned by company insiders.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. William Blair upgraded Palantir Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, February 2nd. Benchmark assumed coverage on Palantir Technologies in a research report on Wednesday, April 1st. They issued a “hold” rating on the stock. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a research report on Thursday, May 21st. Oppenheimer started coverage on Palantir Technologies in a research report on Thursday, April 30th. They issued an “outperform” rating and a $200.00 target price on the stock. Finally, Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $132.51 on Thursday. The firm’s 50-day moving average is $141.86 and its two-hundred day moving average is $156.37. Palantir Technologies Inc. has a 12 month low of $118.93 and a 12 month high of $207.52. The company has a market capitalization of $317.67 billion, a PE ratio of 148.89, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping 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 the consensus estimate of $1.54 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. Palantir Technologies’s quarterly revenue was up 84.7% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current year.

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.