CI Investments Inc. Lowers Stock Holdings in Palantir Technologies Inc. $PLTR

CI Investments Inc. lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.3% during the first quarter, HoldingsChannel reports. The firm owned 486,145 shares of the company’s stock after selling 6,626 shares during the quarter. CI Investments Inc.’s holdings in Palantir Technologies were worth $71,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PLTR. Vanguard Group Inc. increased its stake in 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 buying an additional 1,557,828 shares during the period. State Street Corp raised its position in Palantir Technologies by 1.1% during the 4th 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 lifted its stake in shares of Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock worth $9,599,882,000 after acquiring an additional 805,047 shares during the period. Norges Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $5,149,641,000. Finally, Invesco Ltd. boosted its holdings in Palantir Technologies by 2.8% in the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock valued at $3,984,281,000 after purchasing an additional 616,297 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Key Palantir Technologies News

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?

Palantir Technologies Price Performance

Shares of PLTR opened at $132.66 on Wednesday. The firm has a 50 day simple moving average of $132.09 and a 200-day simple moving average of $143.38. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52. The stock has a market cap of $318.03 billion, a price-to-earnings ratio of 149.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Benchmark downgraded shares of Palantir Technologies to a “hold” rating in a report on Tuesday, June 16th. Weiss Ratings downgraded Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Mizuho decreased their target price on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. BTIG Research lowered Palantir Technologies to a “neutral” rating in a report on Tuesday, June 16th. Finally, Wedbush assumed coverage on Palantir Technologies in a research report on Tuesday, June 16th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 397,744 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 transaction of $54,109,093.76. Following the sale, the insider owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the transaction, the insider directly owned 199,759 shares of the company’s stock, valued at $27,175,214.36. The trade was a 8.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 1,112,270 shares of company stock valued at $150,247,785. Company insiders own 9.53% of the company’s stock.

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.