Korea Investment CORP Cuts Position in Palantir Technologies Inc. $PLTR

Korea Investment CORP trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,625,376 shares of the company’s stock after selling 27,106 shares during the period. Palantir Technologies accounts for about 0.6% of Korea Investment CORP’s investment portfolio, making the stock its 23rd largest position. Korea Investment CORP owned about 0.07% of Palantir Technologies worth $288,911,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew 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 acquiring an additional 1,557,828 shares during the last quarter. State Street Corp grew its stake in Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after acquiring an additional 6,777,771 shares during the last quarter. Geode Capital Management LLC grew its stake in Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after acquiring an additional 805,047 shares during the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at about $5,149,641,000. Finally, Invesco Ltd. grew its stake in Palantir Technologies by 5.9% in the 3rd quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock valued at $3,976,534,000 after acquiring an additional 1,213,529 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 319,934 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the transaction, the insider owned 592 shares in the company, valued at approximately $80,535.68. This trade represents a 99.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 642,786 shares in the company, valued at $87,444,607.44. The trade was a 20.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 925,789 shares of company stock valued at $126,007,032. 9.53% of the stock is currently owned by corporate insiders.

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

Palantir Technologies Stock Performance

PLTR opened at $127.99 on Friday. The company’s 50 day simple moving average is $139.54 and its 200 day simple moving average is $153.76. Palantir Technologies Inc. has a 1 year low of $122.68 and a 1 year high of $207.52. The stock has a market capitalization of $306.83 billion, a PE ratio of 143.81, a P/E/G ratio of 2.08 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results 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 business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the company earned $0.13 earnings per share. The company’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $90.00 price target on shares of Palantir Technologies in a research note on Tuesday, May 5th. Wedbush reaffirmed an “outperform” rating and set a $230.00 price target on shares of Palantir Technologies in a research note on Friday, June 5th. DZ Bank assumed coverage on shares of Palantir Technologies in a research note on Thursday, April 23rd. They set a “buy” rating and a $175.00 price target on the stock. Citigroup raised their price target on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Mizuho decreased their price target on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Moderate Buy” and a consensus target price of $192.76.

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.