Palantir Technologies Inc. $PLTR Stake Boosted by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 695,823 shares of the company’s stock after purchasing an additional 16,877 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Palantir Technologies were worth $100,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PLTR. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter valued at approximately $5,149,641,000. State Street Corp increased 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 worth $18,471,648,000 after buying an additional 6,777,771 shares during the period. Cardano Risk Management B.V. increased its position in Palantir Technologies by 917.4% in 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 period. Corient Private Wealth LLC lifted its stake in 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 buying an additional 4,932,364 shares during the last quarter. Finally, Amundi lifted its stake in Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company’s stock valued at $2,814,879,000 after buying an additional 4,373,201 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. The transaction 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 Shyam Sankar sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $130.00, for a total transaction of $4,550,000.00. Following the transaction, the insider owned 642,786 shares in the company, valued at $83,562,180. This represents a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,112,270 shares of company stock worth $150,247,785 in the last three months. Insiders own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. Citigroup boosted their price target on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wedbush started coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They issued an “outperform” rating on the stock. Benchmark lowered shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, June 16th. Oppenheimer initiated coverage on shares of Palantir Technologies in a research report on Thursday, April 30th. They issued an “outperform” rating and a $200.00 target price for the company. Finally, UBS Group upgraded shares of Palantir Technologies from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: DA Davidson upgraded Palantir to Buy and set a higher price target, reinforcing the bullish case that the company’s AI platform and defense exposure can support further upside. This Wall Street Analyst Sees 30% Upside in Palantir. Is It Time to Buy the Stock?
• Positive Sentiment: Palantir expanded its commercial footprint in Latin America by signing Mexico’s largest insurer, GNP Seguros, its first publicly announced commercial customer in the region, which supports the growth narrative beyond U.S. government contracts. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
• Positive Sentiment: The company also announced a strategic partnership with SNP to accelerate secure SAP transformations, adding another enterprise-use-case win that could broaden adoption of Palantir’s platform. SNP and Palantir Form Strategic Partnership to Accelerate Secure SAP Transformations
• Neutral Sentiment: Several pieces highlighted Palantir’s growing AI and defense relevance, including its sovereign AI work with Nvidia and commentary that the company is becoming more deeply embedded in long-duration government programs. Nvidia and Palantir Are Bringing Sovereign AI to the U.S. Government. Here’s How.
• Negative Sentiment: Shares are sliding as investors worry about intensifying political scrutiny of Palantir’s government business, including reports of possible House action tied to its contracts and criticism of the company’s political posture. Palantir’s real weak spot
• Negative Sentiment: Broader AI and growth-stock weakness is also weighing on PLTR, as traders sell expensive software names amid concerns about slower AI adoption and stretched valuations. What Is Going on With Palantir Stock on Wednesday?
• Negative Sentiment: Recent insider selling, including a large sale by Shyam Sankar, has added to investor caution and reinforced worries that insiders may see the stock as fully valued. Insider trade filing

Palantir Technologies Stock Performance

Shares of PLTR opened at $132.22 on Thursday. The firm has a market capitalization of $316.97 billion, a price-to-earnings ratio of 148.56, a price-to-earnings-growth ratio of 2.15 and a beta of 1.56. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52. The stock’s fifty day moving average is $133.05 and its 200-day moving average is $146.99.

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

Palantir Technologies Company 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.