fwb
3 days ago
PLTR also has a stake in Faraday Future, an EV car company
Palantir now owns nearly 9% of EV startup Faraday Future — here’s why
Story by Sean O'Kane
• 1d • 2 min read
Palantir now owns 8.7% of struggling electric vehicle startup Faraday Future, according to a new filing with the U.S. Securities and Exchange Commission.
The data-mining company was granted more than 800,000 shares in the EV startup on October 2 “as payment for certain outstanding receivables” — the equivalent of roughly $2.4 million judging by Faraday Future’s stock price on that day. Palantir doesn’t explicitly say what receivables were outstanding. But the companies quietly entered a settlement earlier this year after the EV startup stopped paying the data company for services it agreed to buy all the way back in 2021.
Palantir Technologies Inc. Reduces Stake in Surf Air Mobility Inc.
GuruFocus Research
September 17, 2024 3 min read
Overview of Recent Transaction
On September 16, 2024, Palantir Technologies Inc. (Trades, Portfolio), a prominent data analytics firm, executed a significant transaction by reducing its holdings in Surf Air Mobility Inc.
Oleblue
3 days ago
Palantir Technologies Inc. Expands Stake in Surf Air Mobility Inc.
GuruFocus News
Fri, October 4, 2024 at 9:02 PM EDT
SRFM
+40.34%
On October 2, 2024, Palantir Technologies Inc. (Trades, Portfolio), a prominent data analytics firm, made a significant addition to its investment portfolio by acquiring 1,270,869 shares of Surf Air Mobility Inc. (NYSE:SRFM). This transaction increased Palantir's total holdings in the company to 2,730,166 shares, marking a substantial endorsement of Surf Air Mobility's business model and future prospects. The shares were purchased at a price of $1.68 per share, reflecting a strategic move by Palantir in the transportation and technology sectors.
Insight into Palantir Technologies Inc. (Trades, Portfolio)
Warning! GuruFocus has detected 6 Warning Signs with SRFM.
Based in Denver, Colorado, Palantir Technologies Inc. (Trades, Portfolio) is not just any data firm; it's a powerhouse in leveraging big data for insightful analytics across various sectors. With a portfolio that includes only four companies but is highly selective and strategic,
Palantir's investment actions are often watched closely by the market. The firm's top holdings include names like Allego NV (ALLGF), MSP Recovery Inc (NASDAQ:LIFW), and Rubicon Technologies Inc (RBTC), with Surf Air Mobility Inc. (NYSE:SRFM) being a notable part of this exclusive list. The firm's focus primarily lies in the industrials and technology sectors, aligning with its expertise in data analytics.
About Surf Air Mobility Inc.
Surf Air Mobility Inc., headquartered in the USA, operates a unique business model in the transportation industry. Since its IPO on July 27, 2023, the company has been at the forefront of electric aviation, focusing on regional air mobility with an emphasis on sustainability. Despite a challenging market, with a current market capitalization of $24.885 million and a stock price of $1.94, Surf Air Mobility aims to revolutionize air travel through its innovative on-demand and scheduled segments.
Transaction Impact and Strategic Analysis
The recent acquisition by Palantir Technologies Inc. (Trades, Portfolio) has not only increased its stake in Surf Air Mobility Inc. but also raised its position to 18.50% in the company, reflecting a strong vote of confidence in Surf Air Mobility's potential and strategic fit within Palantir's investment philosophy. This move could signal a deeper integration or potential collaborations between Palantirs data analytics capabilities and Surf Air Mobilitys operational needs.
Financial and Market Performance of Surf Air Mobility Inc.
Surf Air Mobility Inc. has faced financial challenges, as indicated by a PE Ratio of 0.00, suggesting the company is not currently generating profits. The GF Score of 14/100 points to potential struggles in future performance. However, the stock has seen a 15.48% increase since the transaction date, although it remains down 94.46% since its IPO and 81.02% year-to-date. These metrics highlight the high-risk, high-reward nature of investing in emerging technologies within the transportation sector.
Broader Market and Sector Implications
The investment by Palantir Technologies in Surf Air Mobility Inc. comes at a time when the transportation sector is increasingly intersecting with technology, particularly around sustainable solutions. This sector's dynamics, coupled with technological advancements, are likely to influence further investments by data-driven firms like Palantir, aiming to leverage their analytical capabilities to foster growth in innovative industries.
Conclusion
Palantir Technologies Inc. (Trades, Portfolio)'s recent investment in Surf Air Mobility Inc. underscores a strategic alignment with innovative and sustainable technology in the transportation sector. While the financial health of Surf Air Mobility poses risks, the potential for future growth and integration with Palantirs technologies could justify the significant stake taken by the firm. Investors and market watchers will undoubtedly keep a close eye on how this partnership evolves, potentially setting a precedent for similar investments in the sector.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
https://finance.yahoo.com/news/palantir-technologies-inc-expands-stake-010250068.html
JJ8
3 days ago
Good observation and comment, fwb.
Who knows what and when to buy and sell a stock in a consistently timely manner profitably.
That happens to be the great challenge in the stock market all the time.
And, yes, there are too many challenges along the way to decide on what may be the right decision.
Many personal decisions depending on what's happening with stock's performance... now is more and more depend on my background, knowledge, valuable experience and preparation. I have had 6 decades of life experience in stocks and it apparently required so long for me to be in charge (the boss) making the important decisions without letting outside factors interfere.
After all, in the end what matters most are the profits.
The question of attempting to push one's expectation to extremes, even though exciting, is tough business and questionable, imo.
I have already tripled my investment. Where do you set your limit?
I have learned that if I don't have my own limits set, I will be subject to outside factors dictate to me the final outcome.
Yes, the sky has limits.
Cheers & Good Luck
fwb
4 days ago
Keep selling, it seems there are plenty of BUYERS..................
Soon you may be one of them,,,,,,,,,,,,
DiscoverGold
1 week ago
Veteran trader who correctly predicted Palantir's rally unveils new price target
By: TheStreet | October 6, 2024
Alex Karp made the list.
The CEO and co-founder of Palantir Technologies (PLTR) was recently added to the Forbes 400, a list published by Forbes magazine of the wealthiest 400 American citizens ranked by net worth who own assets in the U.S.
Don't miss the move: Subscribe to TheStreet's free daily newsletter
Forbes said that despite it requiring more money than ever to make the annual list, which Malcolm Forbes started in 1982, "23 billionaires were able to elbow their way into the ranks this year."
"Palantir’s meteoric rise has earned CEO Alex Karp a spot on The Forbes 400 list of richest Americans for the first time, worth an estimated $3.6 billion, thanks to his Palantir stake and $1 billion or so in cash from stock sales as of September 1, the day we finalized net worths for our list," Forbes said.
The publication raised questions about the data analytics company’s valuation. It noted that only a handful of the five of the 20 analysts who cover Palantir give the group a “buy” rating, with the remainder split between hold and sell ratings.
Forbes reporter Phoebe Liu said that Karp’s addition to the list and Palantir’s too-high valuation show that what he and his company stand for—Western values, American defense, and artificial intelligence—are especially relevant in today’s economic, cultural, and geopolitical landscape.
Analyst says he's 'more bullish' on Palantir
"It’s worth watching what happens with the ever-controversial, ever-secretive (despite being publicly traded!) firm in the coming months and years," Liu said.
Karp, who appeared on “Real Time with Bill Maher" last month, is reported to be an eccentric leader who wears brightly colored athletic wear, practices martial arts, keeps Tai chi swords, and can solve a Rubik's Cube in less than 3 minutes, according to an MSN profile.
After the TV interview, TheStreet Pro analyst Ed Ponsi wondered if Karp was the next "rock star CEO" and noted that the executive "put on a brilliant performance, even as he struggled to coherently explain what it is his company actually does."
"No matter," Ponsi said. "This was Karp’s moment on the big stage. Like Jimi Hendrix at Monterey or Bob Dylan at Newport, Karp has just entered the general public’s consciousness."
The company received early backing from CIA investment arm In-Q-Tel and does contract work for government agencies such as the Department of Defense, the FBI, and the Danish National Police.
Palantir's sales are largely driven by its work helping the U.S. government with its counterterrorism efforts. The data analysis software provider has also expanded into managing, interpreting, and reporting data for large companies.
Karp and his company joined another list recently when Palantir, which went public in 2020, joined the S&P 500, replacing stalwart American Airlines (AAL) .
On Sept. 26, Wedbush analyst Daniel Ives raised the firm's price target on Palantir to $45 from $38 while keeping an outperform rating on the shares, according to The Fly.
Ives said that he is "more bullish" on Palantir going forward, noting that his recent channel checks indicated incrementally more enterprises are strategically discussing how they will deploy the company's Artificial Intelligence Platform during 2025.
The analyst said the increased price target reflects higher confidence in Palantir's enterprise-driven artificial intelligence strategy. He added that he views this as a clear "game changer" for the Palantir story as the use cases of AI start to take hold over the next 12 to 18 months.
Veteran trader looks to upcoming earnings report
The company is "in a prime spot to continue expanding its pipeline/deal flow while providing more use cases coming forward to address critical problems across industries," Ives contended.
Shares of Palantir are up 126% year to date, and the stock got a jolt recently when co-founder Peter Thiel, whom Karp met at Stanford Law School, reportedly sold 12.412 million Palantir shares at an average price of $36.85 per share from Sept. 27 through Oct. 1 under the 10b5-1 trading plan.
The shares were sold through Rivendell 7 LLC, which now has roughly 34.26 million shares of Palantir remaining.
"These were all planned sales, and who could blame him after the run the stock has had?" TheStreet Pro’s Stephen Guilfoyle wrote on Oct.3. "Thiel has not apparently sold any of his voting shares. He, board member Stephen Cohen, and CEO Alex Karp still control the company."
Guilfoyle correctly predicted Palantir's stock rally, making it a top pick when it was trading below $10 per share and continuously recommending it during its rise. He correctly predicted that Palantir's stock price could eventually reach $36.
The veteran trader, who has been trading stocks since the 1980s when he worked on the New York Stock Exchange floor, noted that the company had entered the S&P 500 hand-in-hand with Dell Technologies (DELL) .
"Dell has tumbled 10.6% since its post-addition peak," Guilfoyle said. "We had implied that PLTR could suffer a similar post-addition fate, but so far, the stock has moved more sideways than lower."
Palantir and APA Corp. (APA) , recently announced a multi-year, multi-million-dollar extension to their enterprise agreement originally signed in 2021.
The agreement builds on the work deployed across APA’s global portfolio over the past three years and introduces new artificial intelligence capabilities with Palantir’s Artificial Intelligence Platform software.
"We have not had a precise target since the $36 level had been taken and held," Guilfoyle said.
That's changed. Guilfoyle unveiled a new $48 price target on Palantir this week.
The company is expected to report third-quarter results in November, and analysts are looking for adjusted earnings of 9 cents per share on revenue of $703.7 million.
"If this is indeed the way the cookie crumbles, those numbers would be good for earnings growth of 29% on revenue growth of 26%," Guilfoyle said. "Of the 11 sell-side analysts I see that post sales estimates for Palantir, all 11 have increased their estimates since the start of the third quarter."
Read Full Story »»»
DiscoverGold
DiscoverGold
2 weeks ago
2 Cheap AI Stocks to Watch in October
By: Schaeffer's Investment Research | October 3, 2024
• Artificial intelligence remains a hot-button topic on Wall Street
• AI and PLTR options are looking affordable, at the moment
Artificial intelligence (AI) continues to make headlines, as energy providers struggle to keep up with power grid demand. Big market movers C3ai Inc (NYSE:AI) and Palantir Technologies Inc (NYSE:PLTR) have been popular names amongst traders in the past. However, below we'll take a quick dive into why October may be the right time to revisit the tech powerhouses.
At last check, AI was trading up 3.3% at $38.74. The shares have struggled all year to maintain momentum after hitting an 52-week high of $38.30 on Feb. 29. The equity fell to an annual low in early September, and the subsequent bounce from these lows was turned away at the 50-day moving average.
PLTR is up 3.3% to trade at $38.72, and earlier touched a fresh three-year high of $38.97. . The shares have been rigorously climbing higher since early 2023 lows, with both their 30- and 50-day moving averages capturing pullbacks over the past year.
Options on both securities are looking affordable. This is per C3ai and Palantir stocks' Schaeffer's Volatility Index (SVI) rating of 51% and 41%, which rank in the low 11th and 6th annual percentiles, respectively.
Read Full Story »»»
DiscoverGold
Trade like a pro: Leverage real-time discussions and market-moving ideas to outperform.
Ask ADVFN Intelligence (AI)
Monksdream
1 day ago
Stern is Bald
6 days ago
Lapbid
6 days ago
nicehit
2 weeks ago
Hot Features
Premium
