Korea Investment CORP Cuts Position in Palantir Technologies Inc. $PLTR

Korea Investment CORP decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,625,376 shares of the company’s stock after selling 27,106 shares during the quarter. Palantir Technologies accounts for approximately 0.6% of Korea Investment CORP’s investment portfolio, making the stock its 23rd largest holding. Korea Investment CORP’s holdings in Palantir Technologies were worth $288,911,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. Banco Santander S.A. raised its stake in shares of Palantir Technologies by 1.1% during the fourth quarter. Banco Santander S.A. now owns 104,830 shares of the company’s stock valued at $18,634,000 after purchasing an additional 1,134 shares during the period. Lord Abbett & CO. LLC raised its stake in shares of Palantir Technologies by 7.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,222,213 shares of the company’s stock valued at $217,248,000 after purchasing an additional 79,469 shares during the period. Beck Capital Management LLC raised its stake in shares of Palantir Technologies by 29.5% during the fourth quarter. Beck Capital Management LLC now owns 9,630 shares of the company’s stock valued at $1,712,000 after purchasing an additional 2,191 shares during the period. Sumitomo Life Insurance Co. raised its stake in shares of Palantir Technologies by 0.8% during the fourth quarter. Sumitomo Life Insurance Co. now owns 23,411 shares of the company’s stock valued at $4,161,000 after purchasing an additional 194 shares during the period. Finally, Integrity Investment Advisors LLC raised its stake in shares of Palantir Technologies by 6.8% during the fourth quarter. Integrity Investment Advisors LLC now owns 1,260 shares of the company’s stock valued at $224,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $127.99 on Friday. The company has a market cap of $306.83 billion, a PE ratio of 143.81, a P/E/G ratio of 2.08 and a beta of 1.53. The company has a fifty day moving average price of $139.54 and a two-hundred day moving average price of $153.76. Palantir Technologies Inc. has a 12 month low of $122.68 and a 12 month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results 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 net margin of 43.67% and a return on equity of 28.34%. 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 previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. Equities research analysts anticipate that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR’s Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the sale, the insider directly owned 592 shares in the company, valued at $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of Palantir Technologies stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.00, for a total transaction of $255,680.00. Following the sale, the director owned 55,022 shares in the company, valued at approximately $8,803,520. This represents a 2.82% 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. Over the last quarter, insiders sold 925,789 shares of company stock valued at $126,007,032. 9.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLTR has been the topic of a number of analyst reports. Phillip Securities lifted their price objective on shares of Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. Benchmark initiated coverage on shares of Palantir Technologies in a research note on Wednesday, April 1st. They set a “hold” rating on the stock. Mizuho dropped their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Royal Bank Of Canada restated an “underperform” rating and issued a $90.00 price target on shares of Palantir Technologies in a research note on Tuesday, May 5th. Finally, Citigroup lifted their price target on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Moderate Buy” and a consensus price target of $192.76.

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.