PARUS FINANCE UK Ltd Reduces Stake in Palantir Technologies Inc.

PARUS FINANCE UK Ltd has significantly reduced its investment in Palantir Technologies Inc. (NASDAQ:PLTR), cutting its position by 79.1% in the last quarter of the year. This information was disclosed through its latest 13F filing with the Securities and Exchange Commission (SEC). After the sale of 21,300 shares during that period, PARUS FINANCE UK Ltd now holds only 5,635 shares of Palantir Technologies. This adjustment represents a mere 0.1% of the firm's overall portfolio, ranking it as the 28th largest position within their investments. As of the end of this reporting period, PARUS FINANCE UK Ltd's holdings in Palantir Technologies were valued at approximately $426,000.

Other institutional investors have also made changes to their positions in Palantir Technologies recently. For instance, MV Capital Management Inc. increased its stake by 43.1% during the fourth quarter, bringing its total to 1,304 shares worth around $99,000 after purchasing an additional 393 shares. Meanwhile, Allianz SE established a new position in Palantir Technologies valued at about $486,000 during the same quarter. Tucker Asset Management LLC made notable investments as well, boosting its stake by 572.3% and acquiring 4,619 shares worth $349,000 after an additional purchase of 3,932 shares. Additionally, Allstate Corp entered the market with a new stake valued at approximately $4,564,000, and Maridea Wealth Management LLC bought shares worth about $329,000. Altogether, institutional investors and hedge funds now own 45.65% of the stock.

Wall Street Analysts Offer Insights

A number of analysts have provided insights into Palantir Technologies and its stock performance. DA Davidson adjusted their price target for the company from $47.00 to $105.00 while assigning a “neutral” rating in a research note issued on February 4th. In a report dated December 12th, Baird R W upgraded the stock's rating to “hold.” Additionally, on March 3rd, Wedbush reiterated an “outperform” rating and set a target price of $120.00 for Palantir Technologies. Morgan Stanley followed suit by upgrading the stock from an “equal weight” rating to an “overweight” rating, along with increasing their price target from $60.00 to $95.00. Finally, Robert W. Baird raised their target on the stock from $70.00 to $100.00 while maintaining a “neutral” rating. Currently, five analysts have issued sell ratings, while thirteen suggest holding the stock, and four analysts recommend buying it. Data from MarketBeat indicates that Palantir Technologies carries an average rating of “Hold” with a consensus price target of $74.45.

Palantir Technologies Performance Overview

As of the last trading session, shares of Palantir Technologies (PLTR) opened at $85.85. The company boasts a market capitalization of $201.35 billion and shows a price-to-earnings ratio of 451.87, alongside a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Over its recent performance, it has a 50-day moving average of $91.98 and a 200-day moving average of $69.04. The stock has a notable range, presenting a 52-week low of $20.33 and a high of $125.41.

Corporate Insider Activity

In terms of insider trading activity, Director Lauren Elaina Friedman Stat sold 800 shares on January 2nd at an average price of $76.29, totaling about $61,032. Following this transaction, she still holds 62,139 shares valued at approximately $4,740,584.31, indicating a 1.27% decrease in her ownership. Additionally, insider Heather A. Planishek sold 13,891 shares on February 11th for an average price of $115.96, totaling around $1,610,800.36. After this sale, she owns 512,006 shares valued at $59,372,215.76, which represents a 2.64% decrease in her ownership. Over the previous quarter, insiders executed sales leading to 3,379,785 shares being sold, accumulating a total value of $281,528,938. Currently, insiders collectively hold about 12.93% of the total shares in Palantir Technologies.

Palantir Technologies Company Overview

Palantir Technologies, Inc. is engaged in developing and deploying advanced software platforms that act as the central operating systems for its clients. The company operates in two primary segments: Commercial and Government. The Commercial segment serves clients across non-government sectors, while the Government segment provides services to both U.S. government entities and various non-U.S. government agencies.

Palantir, Finance, Investment