Lord Abbett & CO. LLC Has $217.25 Million Position in Palantir Technologies Inc. $PLTR

Lord Abbett & CO. LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,222,213 shares of the company’s stock after buying an additional 79,469 shares during the period. Lord Abbett & CO. LLC owned about 0.05% of Palantir Technologies worth $217,248,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bare Financial Services Inc boosted its stake in shares of Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the period. Basepoint Wealth LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at $29,000. United Financial Planning Group LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter valued at $32,000. Morton Brown Family Wealth LLC boosted its stake in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after buying an additional 125 shares during the period. Finally, Clayton Financial Group LLC boosted its stake in shares of Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of a number of research reports. Oppenheimer initiated coverage on shares of Palantir Technologies in a research note on Thursday, April 30th. They set an “outperform” rating and a $200.00 target price for the company. Cantor Fitzgerald reissued a “neutral” rating and set a $138.00 target price on shares of Palantir Technologies in a research note on Friday, May 22nd. Zacks Research raised shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the company from $205.00 to $151.00 in a research note on Friday, May 1st. Finally, 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. Two investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Trending Headlines about 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 Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 165,514 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 $22,516,524.56. Following the transaction, the insider owned 642,786 shares in the company, valued at approximately $87,444,607.44. The trade was a 20.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the transaction, the insider owned 199,759 shares in the company, valued at approximately $27,175,214.36. The trade was a 8.96% 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. In the last 90 days, insiders have sold 925,789 shares of company stock worth $126,007,032. Insiders own 9.53% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $127.99 on Friday. The firm’s 50-day moving average is $139.54 and its 200-day moving average is $153.76. Palantir Technologies Inc. has a 52-week low of $122.68 and a 52-week high of $207.52. The company has a market cap of $306.83 billion, a price-to-earnings ratio of 143.81, a PEG ratio of 2.08 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last posted 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 net margin of 43.67% and a return on equity of 28.34%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue was up 84.7% compared to the same quarter last year. Equities analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current 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.