Hodges Capital Management Takes $16.5 Million Stake in Palantir Technologies (PLTR)
Hodges Capital Management Inc. has made a strategic move by acquiring 218,902 shares of Palantir Technologies Inc. (NASDAQ: PLTR) in the fourth quarter, valued at approximately $16.5 million. This investment now accounts for about 1.0% of the firm’s portfolio, marking Palantir as the 28th largest position in Hodges Capital’s holdings. The acquisition signals growing institutional confidence in the tech company, which continues to gain attention from investors and analysts alike.
Several other hedge funds and institutional investors have also increased their stakes in Palantir recently, underscoring growing interest in the company’s AI-driven solutions. For example, Wolff Wiese Magana LLC raised its stake by 230.4% during Q4, and R Squared Ltd entered a new position valued at approximately $33,000. As a result, institutional investors now own 45.65% of Palantir’s stock.
Despite the increased interest from institutional investors, Palantir’s stock has been a topic of mixed analysis. Recently, analysts have given the stock a “hold” consensus rating, with target prices ranging between $28 and $90. For instance, Wedbush upgraded Palantir’s stock target to $90.00 in late January, citing the company’s strong performance in AI and its increasing commercial and government sector contracts.
As of Monday, February 3, shares of Palantir opened at $82.49, a 1.6% increase from the previous day. The stock has experienced significant growth over the past year, with a 52-week high of $85.22 and a low of $16.03, reflecting investor optimism. The company’s market cap stands at $187.91 billion, with a price-to-earnings ratio of 412.47, highlighting its high valuation.
Palantir’s growth trajectory continues to draw attention, with some analysts projecting significant earnings increases in the coming quarters. While the stock has a mixed analyst outlook, the increasing institutional backing reflects confidence in its long-term potential, especially in the realm of artificial intelligence.
Key Insights:
- Hodges Capital’s $16.5 million stake reflects increased institutional confidence in Palantir.
- Several other institutional investors also increased stakes, highlighting growing investor interest.
- Analysts are mixed, with a consensus “hold” rating and target price ranging from $28 to $90.
- Palantir’s market cap of $187.91 billion shows its prominence in the tech sector.
Palantir remains a company to watch, especially with its AI innovations set to play a key role in shaping its future.
