Grange Capital LLC Increases Stake in Palantir Technologies, Amid Growing Institutional Interest
In a recent filing with the SEC, Grange Capital LLC has revealed the acquisition of 77,074 shares of Palantir Technologies Inc. (NASDAQ: PLTR), marking a new addition to its portfolio in the fourth quarter. The firm invested approximately $5.8 million, making Palantir Technologies the fourth largest position in Grange Capital’s holdings, representing a significant 6.1% of its total investment portfolio.
Institutional Investors Flock to Palantir Technologies
Grange Capital’s move comes amidst a trend of increasing institutional involvement in Palantir Technologies. A number of other major institutional investors have similarly increased their stakes in the company over the past year. Dimensional Fund Advisors LP notably expanded its position by 10.7%, acquiring an additional 278,544 shares, bringing its total holdings to over 2.88 million shares, valued at approximately $72.96 million. Other firms like Thrivent Financial for Lutherans and Fred Alger Management LLC also boosted their stakes, signaling growing confidence in Palantir’s potential.
As of the latest data, institutional investors collectively hold 45.65% of Palantir’s stock, highlighting the company’s appeal among large investment entities. With a market capitalization of $179.92 billion, Palantir has seen significant interest from both retail and institutional investors, with stocks trading around $78.98 per share as of late January 2025.
Impressive Stock Performance
Palantir Technologies has experienced impressive stock performance, with its shares hitting a one-year high of $84.80, compared to a low of $16.03. The stock has recently been trading above its 50-day and 200-day moving averages, reflecting positive market sentiment. At a P/E ratio of 394.92 and a P/E/G ratio of 7.08, Palantir maintains a high valuation, indicating market optimism about its future growth prospects despite relatively high valuations.
The company also reported strong earnings performance in its most recent quarterly report. Palantir exceeded earnings expectations, posting $0.10 EPS, surpassing the consensus estimate by $0.01. The company’s revenue surged by 30.0% year-over-year, reaching $725.52 million, reflecting the firm’s growing influence and expansion in the tech industry.
Insider Transactions Spark Interest
In recent insider transactions, Palantir’s CEO, Alexander C. Karp, made headlines by selling over 3.33 million shares of the company at an average price of $45.02 per share, totaling over $150 million. While these sales represent a notable reduction in his position, they also underscore the company’s high valuation and investor interest. Similarly, Palantir’s director, Lauren Elaina Friedman Stat, sold a smaller number of shares in January 2025, continuing the trend of insider transactions in the company.
Analysts Set New Price Targets
As for Palantir’s future prospects, analysts are bullish, with several raising their target prices for the stock. Bank of America upgraded their target from $55.00 to $75.00, maintaining a “buy” rating. Meanwhile, Wedbush raised its target from $75.00 to $90.00, citing strong growth potential. Despite this optimism, some analysts remain cautious, with seven analysts issuing a “sell” rating and others recommending a more neutral stance.
Currently, the consensus rating for Palantir Technologies stock stands at “Hold,” with a consensus price target of $44.61. As the stock continues to capture institutional attention and faces mixed analyst sentiment, investors will be watching for the next moves in the market.
A Thriving Future for Palantir Technologies?
Palantir Technologies Inc. remains one of the most scrutinized stocks in the tech sector, with institutional investors continuing to bet on its future growth. As Palantir moves into the new year, its stock performance and market movements are expected to stay under close observation, reflecting the larger trends of institutional investment and valuation shifts in the technology sector.
With institutional investors continuing to pour money into the company, it’s clear that Palantir Technologies remains a major player in the tech world. Will the stock continue to soar, or will market conditions lead to a shift in sentiment? Only time will tell.
