9,832 Shares in Palantir Technologies Inc. $PLTR Acquired by Draper Asset Management LLC

Key Points

• Draper Asset Management bought a new stake in Palantir Technologies during the first quarter, acquiring 9,832 shares valued at about $1.44 million. The position now makes up roughly 0.8% of the fund’s holdings.
• Palantir continues to attract significant institutional interest overall, with hedge funds and other investors holding 45.65% of the stock. Several firms increased their stakes sharply, while Vanguard remains by far the largest holder among those mentioned.
• Despite strong recent earnings and revenue growth, Palantir’s stock has been under pressure: shares fell 5.5% to $107.27, and analysts currently rate it Moderate Buy with an average target price of $192.76. Insider selling and valuation concerns have also weighed on sentiment.

Draper Asset Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,832 shares of the company's stock, valued at approximately $1,438,000. Palantir Technologies makes up about 0.8% of Draper Asset Management LLC's holdings, making the stock its 17th biggest position.

Several other institutional investors have also bought and sold shares of the stock. Milestone Asset Management LLC lifted its holdings in Palantir Technologies by 229.5% during the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company's stock valued at $10,763,000 after purchasing an additional 42,173 shares during the last quarter. VCI Wealth Management LLC grew its stake in Palantir Technologies by 42.3% during the fourth quarter. VCI Wealth Management LLC now owns 12,187 shares of the company's stock worth $2,166,000 after buying an additional 3,621 shares during the last quarter. Vanguard Group Inc. grew its stake in Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock worth $38,295,188,000 after buying an additional 1,557,828 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $222,143,000. Finally, Jefferson Bridge Capital LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $1,322,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HSBC downgraded Palantir Technologies from a "buy" rating to a "hold" rating and reduced their target price for the stock from $205.00 to $151.00 in a report on Friday, May 1st. Phillip Securities lifted their price objective on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. DZ Bank initiated coverage on Palantir Technologies in a research note on Thursday, April 23rd. They issued a "buy" rating and a $175.00 price objective on the stock. Weiss Ratings lowered Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, April 27th. Finally, Mizuho decreased their target price on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $192.76.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 165,514 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares in the company, valued at $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the transaction, the insider directly owned 592 shares in the company, valued at $80,535.68. This trade represents a 99.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 927,270 shares of company stock worth $126,197,785. Corporate insiders own 9.53% of the company's stock.

Palantir Technologies Trading Down 5.5%

Shares of PLTR stock opened at $107.27 on Friday. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52. The firm's 50 day moving average is $136.55 and its 200-day moving average is $150.70. The firm has a market capitalization of $257.16 billion, a price-to-earnings ratio of 120.53, a PEG ratio of 1.80 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the business posted $0.13 earnings per share. Palantir Technologies's revenue for the quarter was up 84.7% compared to the same quarter last year. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Several articles highlighted that Wall Street analysts and bullish investors still see upside in Palantir, citing its rapid revenue growth, strong recent quarterly results, and expanding role in enterprise AI adoption. Article Title
• Positive Sentiment: Palantir’s new partnership with Zeta Global was described as validation for its AI platform and a sign that its technology is gaining traction in enterprise marketing infrastructure. Article Title
• Neutral Sentiment: Some coverage framed the recent selloff as a valuation reset after a huge prior run, arguing that while Palantir remains expensive, the pullback may be making the stock more attractive for long-term investors. Article Title
• Neutral Sentiment: Other pieces repeated the long-term growth case, noting Palantir’s strong revenue expansion and AI-driven positioning, but these bullish arguments have not been enough to stop the decline. Article Title
• Negative Sentiment: The main driver of the stock weakness appears to be concerns about Palantir’s stretched valuation, profit-taking in AI stocks, and a broader rotation away from software names toward AI hardware and chipmakers. Article Title
• Negative Sentiment: Bearish commentary from Michael Burry and repeated reports of Palantir hitting fresh 52-week lows have reinforced fears that the selloff could continue if sentiment stays weak. Article Title

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.