First Hawaiian Bank Increases Holdings in Palantir Technologies Inc.

First Hawaiian Bank has significantly increased its investment in Palantir Technologies Inc. (NASDAQ:PLTR) by 36.5% during the fourth quarter, as reported in its recent Form 13F filing with the Securities & Exchange Commission. Following this increase, the bank now holds 15,434 shares in Palantir, having purchased an additional 4,131 shares during this period. The total value of First Hawaiian Bank's holdings in Palantir Technologies is approximately $1,167,000 according to its latest filing with the SEC.

In addition to First Hawaiian Bank, several institutional investors and hedge funds have also adjusted their positions in Palantir. For example, State Street Corp boosted its investment by 96.4% in the third quarter, acquiring 40,498,024 additional shares to hold a total of 82,512,440 shares, worth about $3,069,463,000. Geode Capital Management LLC increased its stake by 52.9%, holding 47,946,926 shares valued at $1,777,568,000 after acquiring 16,598,253 shares. International Assets Investment Management LLC saw a remarkable increase of 3,476.2%, adding 6,641,253 shares worth a total of $254,162,000. Charles Schwab Investment Management Inc. also raised its stake by 60.5%, now owning 12,387,040 shares valued at approximately $460,798,000. Marshall Wace LLP significantly grew its stake by 594.3% in the second quarter, owning 3,550,176 shares at a value of $89,926,000. Collectively, institutional investors own about 45.65% of Palantir's stock.

Wall Street Analysts Provide Insights

Equities analysts have shared their perspectives on Palantir Technologies' stock. Robert W. Baird began coverage of the company, issuing a "neutral" rating and setting a target price of $70.00. In contrast, Argus downgraded the stock from "buy" to "hold". Morgan Stanley maintained an "underweight" rating with a price target of $60.00. Mizuho upgraded its price target from $37.00 to $44.00, while Wedbush set a higher price target of $75.00 with an "outperform" rating. Currently, seven analysts rate the stock as a sell, eleven as a hold, and two as a buy. The average rating for Palantir Technologies is "Hold" with a target price of $42.12 according to MarketBeat.com.

Palantir Technologies Stock Performance

As of the last trading session, shares of Palantir (NASDAQ:PLTR) opened at $68.23. Over the past year, the stock has fluctuated with a low of $16.03 and a high of $84.80. The company currently has a market capitalization of $155.43 billion, boasting a price-to-earnings ratio of 341.17 and a PEG ratio of 10.18. The stock's volatility is reflected in its beta of 2.82. Its 50-day moving average stands at $68.42, while the 200-day moving average is at $45.38.

On November 4th, Palantir Technologies announced its quarterly earnings, reporting $0.10 earnings per share (EPS), exceeding analysts' expectations of $0.09. The company demonstrated a return on equity of 9.94% with a net margin of 18.01%. Revenue for the quarter reached $725.52 million, surpassing the projected $705.11 million. In comparison to the same quarter in the previous year, the quarterly revenue showed a growth of 30% year-over-year.

Insider Transactions

Recent insider activity at Palantir Technologies indicates that key executives are actively trading shares. Insider Ryan D. Taylor sold 483,987 shares on January 2nd at an average price of $74.48, totaling $36,047,351.76. Following this sale, he retains 170,273 shares valued at $12,681,933.04, representing a significant decrease of 73.97% in his ownership. Additionally, Director Lauren Elaina Friedman Stat sold 8,054 shares on November 5th at an average price of $50.49, equating to about $406,646.46. Collectively, insiders sold a total of 23,638,189 shares valued at over $1.44 billion in the last quarter, holding 12.93% of the company’s total shares in ownership.

About Palantir Technologies

Palantir Technologies, Inc. specializes in building and deploying software platforms that act as the central operating systems for its clients. The company's operations are divided into two main segments: Commercial and Government. The Commercial segment caters to non-government clients, while the Government segment focuses on providing services to various U.S. and international government agencies.

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