Invesco Ltd. Purchases 1,213,529 Shares of Palantir Technologies Inc. $PLTR

Invesco Ltd. raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 5.9% during the third quarter, HoldingsChannel reports. The firm owned 21,798,785 shares of the company’s stock after purchasing an additional 1,213,529 shares during the period. Palantir Technologies makes up approximately 0.6% of Invesco Ltd.’s holdings, making the stock its 13th biggest holding. Invesco Ltd.’s holdings in Palantir Technologies were worth $3,976,534,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. boosted its stake in shares of Palantir Technologies by 778.7% during the third quarter. Decker Retirement Planning Inc. now owns 61,326 shares of the company’s stock valued at $11,187,000 after purchasing an additional 54,347 shares during the period. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares during the last quarter. Prentice Wealth Management LLC purchased a new position in shares of Palantir Technologies in the third quarter worth $550,000. Watershed Private Wealth LLC increased its stake in shares of Palantir Technologies by 75.3% in the third quarter. Watershed Private Wealth LLC now owns 7,798 shares of the company’s stock worth $1,423,000 after buying an additional 3,350 shares during the period. Finally, GAM Holding AG raised its holdings in Palantir Technologies by 39.0% during the 3rd quarter. GAM Holding AG now owns 13,788 shares of the company’s stock valued at $2,515,000 after buying an additional 3,868 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of several analyst reports. Wall Street Zen cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Citigroup upped their price objective on shares of Palantir Technologies from $235.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $200.00 target price on shares of Palantir Technologies in a report on Tuesday, February 3rd. Phillip Securities started coverage on Palantir Technologies in a research note on Thursday, January 22nd. They issued a “buy” rating and a $208.00 target price on the stock. Finally, Loop Capital reduced their price target on Palantir Technologies from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.68.

View Our Latest Research Report on Palantir Technologies

Palantir Technologies Stock Performance

Shares of PLTR opened at $153.50 on Friday. The stock has a market cap of $367.12 billion, a PE ratio of 243.65, a price-to-earnings-growth ratio of 3.00 and a beta of 1.70. Palantir Technologies Inc. has a fifty-two week low of $66.12 and a fifty-two week high of $207.52. The firm’s 50-day simple moving average is $153.32 and its two-hundred day simple moving average is $168.80.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its earnings results on Monday, February 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the business earned $0.14 earnings per share. The business’s revenue was up 70.0% on a year-over-year basis. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 493,025 shares of Palantir Technologies stock in a transaction on Friday, February 20th. The stock was sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $860,507,475.24. The trade was a 7.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 17,438 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $2,331,809.36. Following the completion of the sale, the insider directly owned 392,370 shares in the company, valued at $52,467,716.40. This trade represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,045,279 shares of company stock worth $140,539,043 over the last quarter. 9.23% of the stock is currently owned by company insiders.

More Palantir Technologies News

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Palantir Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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