115,708 Palantir Technologies Inc. $PLTR Shares Purchased by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Palantir stake by 10.4% in the second quarter, purchasing 115,708 additional shares and bringing its holdings to 1.23 million shares worth approximately $143.3 million.
• Palantir reported stronger-than-expected quarterly results, with $0.41 in earnings per share and $1.94 billion in revenue, up 92.8% year over year. However, the stock trades at a high valuation, including a price-to-earnings ratio above 162.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $195.33, while insiders sold more than 720,000 shares worth approximately $116.9 million during the latest quarter.

Envestnet Asset Management Inc. grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 10.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,228,011 shares of the company's stock after purchasing an additional 115,708 shares during the period. Envestnet Asset Management Inc. owned about 0.05% of Palantir Technologies worth $143,270,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PLTR. State Street Corp grew its position in Palantir Technologies by 2.8% in the second quarter. State Street Corp now owns 104,490,468 shares of the company's stock valued at $12,190,903,000 after acquiring an additional 2,863,874 shares during the period. Wellington Altus USA Inc. increased its stake in shares of Palantir Technologies by 453.8% in the second quarter. Wellington Altus USA Inc. now owns 7,559 shares of the company's stock valued at $882,000 after buying an additional 6,194 shares in the last quarter. Anchor Investment Management LLC increased its stake in shares of Palantir Technologies by 8.3% in the second quarter. Anchor Investment Management LLC now owns 7,985 shares of the company's stock valued at $932,000 after buying an additional 611 shares in the last quarter. Bullseye Investment Management LLC bought a new position in shares of Palantir Technologies in the second quarter valued at about $65,000. Finally, Talon Private Wealth LLC bought a new position in shares of Palantir Technologies in the second quarter valued at about $321,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Down 1.5%

NASDAQ:PLTR opened at $189.67 on Friday. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52. The stock has a 50-day moving average price of $164.76 and a two-hundred day moving average price of $147.54. The stock has a market cap of $455.79 billion, a price-to-earnings ratio of 162.11, a PEG ratio of 2.71 and a beta of 1.62.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The firm's revenue was up 92.8% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. Sell-side analysts forecast that Palantir Technologies Inc. will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research analyst reports. Oppenheimer lowered shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Tuesday, August 4th. Benchmark reiterated a "hold" rating on shares of Palantir Technologies in a research report on Tuesday, August 4th. Cantor Fitzgerald assumed coverage on Palantir Technologies in a report on Tuesday, August 4th. They set an "overweight" rating for the company. Jefferies Financial Group restated an "underperform" rating and set a $80.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 4th. Finally, President Capital upgraded shares of Palantir Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the company from $25.50 to $133.00 in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $195.33.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 150,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $130.00, for a total transaction of $19,500,000.00. Following the sale, the insider directly owned 599,899 shares in the company, valued at $77,986,870. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Friedman Stat sold 3,032 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $165.00, for a total transaction of $500,280.00. Following the completion of the sale, the director directly owned 54,107 shares in the company, valued at $8,927,655. This represents a 5.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 720,027 shares of company stock worth $116,879,340. 9.53% of the stock is owned by company insiders.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Commercial AI demand is accelerating. Chairman Peter Thiel said sales to U.S. corporations have increased “tremendously,” while analysts continue to highlight Palantir’s faster-growing commercial segment and expanding use of its AI platform. Peter Thiel on Palantir’s U.S. sales
• Positive Sentiment: Defense and government opportunities remain a major catalyst. Recent Army contract activity, European discussions, and potential aviation-related expansion are reinforcing expectations that Palantir can benefit from sovereign AI and government technology spending. McKinsey estimates sovereign AI could represent as much as 40% of AI spending through 2030. Sovereign AI opportunity for Palantir
• Positive Sentiment: Analyst support remains strong. Rosenblatt reaffirmed its Buy rating and has cited the possibility that a modest aviation contract could expand into a larger opportunity. UBS and DA Davidson have reportedly raised their price targets to $250. Analyst targets and opposing views
• Neutral Sentiment: Palantir’s competitive advantage is being debated. Industry executives describe the company less as a model developer and more as a highly capable data-architecture and AI-infrastructure provider. That supports the durability of its platform, but also highlights the need to prove that its integrations and partnerships can translate into sustained revenue growth. Palantir’s data-architecture position
• Negative Sentiment: Extreme valuation is increasing downside risk. Palantir trades at a very high earnings multiple, prompting concerns that exceptional growth is already reflected in the stock. Higher Treasury yields are another headwind for richly valued technology companies.
• Negative Sentiment: Short-seller criticism is weighing on sentiment. Michael Burry has disclosed bearish positions in Palantir, citing valuation and receivables concerns. A recent rating downgrade also questioned the company’s open-weight AI strategy and whether growth can justify the current valuation. Michael Burry’s AI stock shorts

Palantir Technologies Profile

Palantir Technologies Inc is a software company that develops data integration, analytics and artificial intelligence platforms for government agencies and commercial organizations. Its software is designed to help customers integrate information from disparate sources, analyze complex data and support operational decision-making.

The company's principal platforms include Gotham, which is used primarily by defense, intelligence and public-sector organizations; Foundry, which helps commercial and institutional customers manage and analyze operational data; and Apollo, a platform for deploying and managing software across varied computing environments.

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