Connor Clark & Lunn Investment Management Ltd. Grows Stake in Palantir Technologies Inc. $PLTR

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 87.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 380,336 shares of the company’s stock after acquiring an additional 177,967 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Palantir Technologies were worth $51,847,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the first quarter valued at approximately $25,000. Signature Resources Capital Management LLC bought a new position in Palantir Technologies in the second quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new position in Palantir Technologies during the first quarter valued at $27,000. 1248 Management LLC purchased a new position in Palantir Technologies during the first quarter valued at $27,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at $27,000. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird raised their target price on shares of Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday. Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a report on Tuesday. Citigroup upped their price target on Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Loop Capital raised their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $173.45.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider directly owned 431,169 shares of the company’s stock, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $186.39, for a total transaction of $149,112.00. Following the transaction, the director owned 62,087 shares in the company, valued at approximately $11,572,395.93. This trade represents a 1.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,527,750 shares of company stock valued at $234,463,896. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Up 1.6%

Palantir Technologies stock opened at $177.93 on Friday. Palantir Technologies Inc. has a 12 month low of $55.30 and a 12 month high of $207.52. The stock has a fifty day simple moving average of $177.73 and a two-hundred day simple moving average of $154.10. The firm has a market cap of $422.11 billion, a price-to-earnings ratio of 423.65, a PEG ratio of 6.89 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $0.10 earnings per share. Palantir Technologies’s revenue was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.