10,760,942 Shares in Palantir Technologies Inc. $PLTR Purchased by Jennison Associates LLC

Jennison Associates LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,760,942 shares of the company’s stock, valued at approximately $1,574,111,000. Palantir Technologies accounts for 1.1% of Jennison Associates LLC’s portfolio, making the stock its 23rd biggest position.

Other institutional investors also recently bought and sold shares of the company. Beaumont Financial Advisors LLC lifted its position in shares of Palantir Technologies by 2.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock worth $527,000 after purchasing an additional 59 shares in the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of Palantir Technologies by 0.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after purchasing an additional 60 shares during the period. Sandbox Financial Partners LLC grew its holdings in shares of Palantir Technologies by 1.3% in the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock valued at $873,000 after purchasing an additional 61 shares in the last quarter. San Luis Wealth Advisors LLC grew its holdings in shares of Palantir Technologies by 1.6% in the fourth quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock valued at $726,000 after purchasing an additional 63 shares in the last quarter. Finally, Monument Capital Management grew its holdings in shares of Palantir Technologies by 1.2% in the fourth quarter. Monument Capital Management now owns 5,341 shares of the company’s stock valued at $949,000 after purchasing an additional 63 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

More Palantir Technologies News

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

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research reports. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and reduced their target price for the stock from $205.00 to $151.00 in a report on Friday, May 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $138.00 price target on shares of Palantir Technologies in a research note on Friday, May 22nd. Wolfe Research raised Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. DA Davidson reaffirmed a “buy” rating and set a $175.00 price objective on shares of Palantir Technologies in a research report on Friday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price objective on shares of Palantir Technologies in a research note on Friday, June 5th. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 397,744 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This trade represents a 5.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 35,000 shares of Palantir Technologies stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $130.00, for a total transaction of $4,550,000.00. Following the sale, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $83,562,180. This trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,112,270 shares of company stock worth $150,247,785. Corporate insiders own 9.53% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $132.38 on Friday. The company’s 50 day moving average price is $132.20 and its 200 day moving average price is $144.30. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The firm has a market capitalization of $317.36 billion, a price-to-earnings ratio of 148.74, a PEG ratio of 2.12 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 4th. The company reported $0.33 earnings per share 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 firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue was up 84.7% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

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.