IQ EQ FUND MANAGEMENT IRELAND Ltd Expands Stake in Palantir Technologies

IQ EQ FUND MANAGEMENT IRELAND Ltd has significantly increased its investment in Palantir Technologies Inc. (NASDAQ: PLTR) by 59.4% during the fourth quarter of the year, as detailed in its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now holds a total of 59,981 shares of Palantir after acquiring an additional 22,350 shares during this reporting period. At the close of the latest filing, IQ EQ FUND MANAGEMENT IRELAND Ltd's stake in Palantir was valued at approximately $4,536,000.

Additionally, several other institutional investors have made adjustments to their positions in Palantir Technologies in recent months. Larson Financial Group LLC has raised its stake in the company by 70.3% during the third quarter, bringing its total to 10,756 shares valued at $400,000 after purchasing an extra 4,441 shares in that period. Similarly, Independent Advisor Alliance improved its holdings by 9.9% during the same quarter, now owning 29,642 shares worth about $1,103,000 after buying 2,662 more shares. DRW Securities LLC entered a new position in Palantir valued at $213,000 during the third quarter, and Private Trust Co. NA increased its stake by 14.2%, leading to a total of 5,903 shares valued at around $220,000 following an additional purchase of 736 shares. Lastly, The Manufacturers Life Insurance Company notably bolstered its position by 991.4% in the third quarter, now holding 1,238,026 shares equivalent to $46,055,000.

Insider Transactions Revealed

In other news about Palantir Technologies, Director Alexandra W. Schiff sold 4,000 shares on January 7th at an average price of $71.63, resulting in a total transaction value of $286,520. Following this sale, she holds 195,393 shares valued at approximately $13,996,000. This transaction marked a 2.01% reduction in her stake. On another occasion, insider Stephen Andrew Cohen sold a substantial 310,000 shares on March 17th for an average price of $87.07, totaling $26,991,700. Post-transaction, he retained only 592 shares, valued at about $51,545.44, reflecting a dramatic 99.81% decrease in his ownership. Over the past 90 days, insiders have collectively sold 3,379,785 shares valued at $281,528,938, with insider ownership now at 12.93%.

Current Market Performance of Palantir Technologies Stock

As of Thursday, shares of Palantir Technologies (NASDAQ: PLTR) were trading at $92.28. The stock has seen a 12-month low of $20.33 and a high of $125.41. Over the past fifty days, the average price per share has been $91.28, while the two-hundred day average is $68.54. Presently, the company has a market capitalization of $216.43 billion, with a PE ratio of 485.71 and a beta of 2.81.

Analyst Ratings and Recommendations

Recent evaluations by several analysts have indicated varied perspectives on the stock. Wedbush retained an "outperform" rating and issued a price target of $120.00 on March 3rd, while Loop Capital adjusted its target from $141.00 to $125.00 with a "buy" recommendation. Jefferies Financial Group shifted their price objective from $28.00 to $60.00, assigning an "underperform" rating. Bank of America maintains a "buy" rating with a new target of $125.00, while Northland Securities increased their price target to $80.00, categorizing it as a "market perform." Overall, data reveals five analysts rated the stock as a sell, while thirteen hold and four indicate a buy, giving it an average rating of “Hold” with a consensus target price of $74.45.

Company Overview

Palantir Technologies, Inc. specializes in developing software platforms that serve as central operating systems for various customers. The company operates through two segments: Commercial, which targets non-government clients, and Government, focusing on clients from U.S. and non-U.S. governmental agencies.

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