ABN Amro Investment Solutions Takes $13.73 Million Position in Palantir Technologies Inc. $PLTR

ABN Amro Investment Solutions bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 93,835 shares of the company’s stock, valued at approximately $13,726,000.

A number of other hedge funds also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in Palantir Technologies by 8.0% in the first quarter. PNC Financial Services Group Inc. now owns 552,092 shares of the company’s stock valued at $80,760,000 after acquiring an additional 40,900 shares during the last quarter. Andra AP fonden raised its holdings in shares of Palantir Technologies by 5.9% during the 1st quarter. Andra AP fonden now owns 407,700 shares of the company’s stock worth $59,638,000 after buying an additional 22,663 shares in the last quarter. Wilkerson Advisory Group LLC raised its holdings in shares of Palantir Technologies by 247.5% during the 1st quarter. Wilkerson Advisory Group LLC now owns 1,032 shares of the company’s stock worth $151,000 after buying an additional 735 shares in the last quarter. Dale Q Rice Investment Management Ltd lifted its position in shares of Palantir Technologies by 15.8% during the 1st quarter. Dale Q Rice Investment Management Ltd now owns 5,783 shares of the company’s stock worth $846,000 after buying an additional 789 shares during the last quarter. Finally, Glenview Trust Co lifted its position in shares of Palantir Technologies by 24.1% during the 1st quarter. Glenview Trust Co now owns 6,059 shares of the company’s stock worth $886,000 after buying an additional 1,177 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 165,514 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the transaction, the insider directly owned 642,786 shares of the company’s stock, valued at $87,444,607.44. This trade represents a 20.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,330,093.12. Following the transaction, the insider directly owned 375,242 shares of the company’s stock, valued at approximately $51,047,921.68. This represents a 4.37% 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. Insiders have sold 1,112,270 shares of company stock valued at $150,247,785 in the last quarter. Insiders own 9.53% of the company’s stock.

Palantir Technologies Trading Down 1.6%

NASDAQ:PLTR opened at $132.66 on Wednesday. The stock has a market cap of $318.03 billion, a P/E ratio of 149.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.56. The stock’s 50-day moving average is $132.09 and its 200-day moving average is $143.38. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data 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 return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The firm’s revenue was up 84.7% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Mizuho decreased their target price on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings cut shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. BNP Paribas Exane began coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They issued an “underperform” rating on the stock. Wedbush assumed coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They set an “outperform” rating on the stock. Finally, DZ Bank began coverage on shares of Palantir Technologies in a research report on Thursday, April 23rd. They set a “buy” rating and a $175.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.85.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir’s AI software demand continues to support rapid revenue growth, with recent coverage highlighting strong first-quarter results, rising contract value, and growing adoption of its Artificial Intelligence Platform by U.S. commercial customers. Palantir Stock Extends Recovery on Strong AI Software Demand
• Positive Sentiment: Multiple bullish outlook pieces say Palantir could rally further into its upcoming Aug. 3 report, as investors look for another earnings beat and guidance raise to extend the stock’s recovery. Prediction: Palantir Stock Will Go Parabolic After Aug. 3. Here’s Why
• Positive Sentiment: Commentary also points to Palantir’s unique Ontology platform and its growing footprint across government and enterprise customers as reasons some investors still see substantial long-term upside. Prediction: This Could Be Palantir’s Stock Price By the End of 2027
• Neutral Sentiment: Several articles are debating whether Palantir is now a buy after its pullback, but these pieces mostly reinforce that the key issue remains valuation rather than the company’s operating performance. Palantir Stock Is Down More Than 35% from Its Peak. Is It Finally a Buy?
• Negative Sentiment: Bearish coverage continues to pressure sentiment by emphasizing that Palantir trades at a rich multiple, leaving the stock vulnerable if growth slows or the next update fails to impress. Palantir: The Stock Is Richly Valued With a Forward P/S Multiple of Over 40x, but Is the Growth Story Still Worth Buying Into?

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.