Convergence Investment Partners LLC Buys 7,685 Shares of Palantir Technologies Inc. $PLTR

Convergence Investment Partners LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 438.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,436 shares of the company’s stock after acquiring an additional 7,685 shares during the quarter. Convergence Investment Partners LLC’s holdings in Palantir Technologies were worth $1,380,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after purchasing an additional 1,557,828 shares during the last quarter. State Street Corp raised its stake in Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company’s stock worth $18,198,990,000 after buying an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC raised its stake in Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock worth $9,599,882,000 after buying an additional 805,047 shares during the last quarter. Norges Bank acquired a new position in Palantir Technologies in the fourth quarter valued at $5,149,641,000. Finally, Invesco Ltd. lifted its holdings in Palantir Technologies by 2.8% in the fourth quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock valued at $3,984,281,000 after buying an additional 616,297 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $132.66 on Wednesday. The stock’s 50 day simple moving average is $132.09 and its 200 day simple moving average is $143.38. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The company 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.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS 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 firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm 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 analysts predict that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Palantir Technologies News Summary

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?

Wall Street Analyst Weigh In

A number of analysts have weighed in on PLTR shares. Benchmark downgraded Palantir Technologies to a “hold” rating in a report on Tuesday, June 16th. Mizuho dropped their price objective on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a report on Friday, June 5th. Oppenheimer began coverage on shares of Palantir Technologies in a research report on Thursday, April 30th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, BTIG Research lowered shares of Palantir Technologies to a “neutral” rating in a research note on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven 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 a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 17,128 shares of the 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 in the company, valued at $51,047,921.68. This trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction on 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 completion of the sale, the insider directly owned 592 shares of the company’s stock, valued at approximately $80,535.68. The trade was a 99.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,112,270 shares of company stock valued at $150,247,785 over the last three months. 9.53% of the stock is currently owned by company insiders.

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.