OP Asset Management Ltd Invests $58.49 Million in Palantir Technologies Inc. $PLTR

OP Asset Management Ltd bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 399,886 shares of the company’s stock, valued at approximately $58,495,000. Palantir Technologies comprises approximately 0.6% of OP Asset Management Ltd’s portfolio, making the stock its 28th largest holding.

Other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its position in shares of Palantir Technologies by 33.8% during the first quarter. Banque Cantonale Vaudoise now owns 46,901 shares of the company’s stock worth $6,861,000 after purchasing an additional 11,841 shares in the last quarter. Apella Capital LLC boosted its position in shares of Palantir Technologies by 109.3% in the 1st quarter. Apella Capital LLC now owns 14,369 shares of the company’s stock worth $2,104,000 after purchasing an additional 7,503 shares in the last quarter. Thoma Capital Management LLC boosted its position in shares of Palantir Technologies by 6.7% in the 1st quarter. Thoma Capital Management LLC now owns 5,378 shares of the company’s stock worth $787,000 after purchasing an additional 336 shares in the last quarter. Brandywine Oak Private Wealth LLC grew its stake in Palantir Technologies by 38.5% during the 1st quarter. Brandywine Oak Private Wealth LLC now owns 2,819 shares of the company’s stock worth $412,000 after buying an additional 783 shares during the last quarter. Finally, Centennial Wealth Advisory LLC increased its position in Palantir Technologies by 33.2% during the 1st quarter. Centennial Wealth Advisory LLC now owns 4,099 shares of the company’s stock valued at $600,000 after buying an additional 1,021 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir’s partnership with Zeta Global strengthens the company’s AI growth narrative and adds another enterprise use case for Foundry, which analysts view as validation of Palantir’s platform. Article Title
• Positive Sentiment: Cathie Wood’s ARK Invest bought Palantir shares, a signal that some growth investors still see value in the pullback. Article Title
• Neutral Sentiment: Several articles argue that Palantir’s selloff may have gone too far and that the stock could be a buy for long-term investors, but these are opinion pieces rather than new fundamentals. Article Title
• Negative Sentiment: Sentiment remains weak because Palantir has been sliding toward or hitting new 52-week lows, with reports pointing to AI disruption fears, sector rotation out of software, and valuation concerns as reasons for the decline. Article Title
• Negative Sentiment: Coverage also highlighted competitive and international setbacks, including reports of European customers moving away from Palantir, which may add pressure to the stock. Article Title

Analyst Upgrades and Downgrades

A number of research firms have commented on PLTR. DA Davidson decreased their price target on Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Oppenheimer began coverage on Palantir Technologies in a research note on Thursday, April 30th. They set an “outperform” rating and a $200.00 price target on the stock. Royal Bank Of Canada restated an “underperform” rating and set a $90.00 price objective on shares of Palantir Technologies in a report on Tuesday, May 5th. Benchmark lowered shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, June 16th. Finally, Wedbush initiated coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.76.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $113.47 on Thursday. The business’s 50-day simple moving average is $137.11 and its two-hundred day simple moving average is $151.23. The company has a market cap of $272.03 billion, a PE ratio of 127.50, a PEG ratio of 1.85 and a beta of 1.53. Palantir Technologies Inc. has a fifty-two week low of $112.25 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced 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. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business 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 company earned $0.13 earnings per share. The company’s revenue was up 84.7% on a year-over-year basis. As a group, analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at approximately $875,044,378.32. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at approximately $87,444,607.44. The trade was a 20.48% 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 927,270 shares of company stock worth $126,197,785 in the last quarter. 9.53% of the stock is currently owned by corporate insiders.

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.