Adams Diversified Equity Fund Inc. Acquires 61,800 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Adams Diversified Equity Fund more than doubled its Palantir stake in Q1, buying 61,800 additional shares and bringing its total holdings to 118,700 shares valued at about $17.4 million.
• Palantir’s stock was trading lower from its highs, opening at $112.93 with a market cap of about $270.7 billion, while still carrying a rich valuation with a P/E ratio of 126.89.
• The company’s latest earnings beat expectations, with EPS of $0.33 versus $0.28 expected and revenue of $1.63 billion, up 84.7% year over year; analysts currently rate the stock Moderate Buy with an average target of $192.76.

Adams Diversified Equity Fund Inc. lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 108.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,700 shares of the company's stock after purchasing an additional 61,800 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Palantir Technologies were worth $17,363,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cornerstone Wealth Group LLC lifted its holdings in Palantir Technologies by 2.1% in the 1st quarter. Cornerstone Wealth Group LLC now owns 7,175 shares of the company's stock worth $1,047,000 after purchasing an additional 146 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in Palantir Technologies by 5.4% during the first quarter. Onyx Bridge Wealth Group LLC now owns 22,585 shares of the company's stock valued at $3,304,000 after purchasing an additional 1,150 shares during the last quarter. Montgomery Investment Management Inc. bought a new position in shares of Palantir Technologies in the first quarter valued at approximately $440,000. Yoder Wealth Management Inc. raised its position in shares of Palantir Technologies by 1.8% in the first quarter. Yoder Wealth Management Inc. now owns 6,216 shares of the company's stock valued at $909,000 after purchasing an additional 107 shares during the period. Finally, ABN AMRO Bank N.V. lifted its stake in shares of Palantir Technologies by 5.9% in the first quarter. ABN AMRO Bank N.V. now owns 38,942 shares of the company's stock worth $5,725,000 after buying an additional 2,178 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 5.3%

Palantir Technologies stock opened at $112.93 on Friday. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $207.52. The stock has a market cap of $270.73 billion, a price-to-earnings ratio of 126.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.53. The business has a 50 day moving average price of $135.96 and a two-hundred day moving average price of $150.44.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the previous year, the business posted $0.13 earnings per share. Palantir Technologies's quarterly revenue was up 84.7% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 1.16 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: ARK Invest reportedly bought about $3.3 million of Palantir shares, helping fuel “buy the dip” interest after the stock hit 52-week lows. Why Is Palantir Stock Surging On Friday?
• Positive Sentiment: Wedbush and other bullish commentators argued the recent tech selloff is a buying opportunity, saying investors still underestimate Palantir’s role in enterprise AI. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: New growth catalysts were highlighted from Palantir’s partnerships with Zeta Global and the U.S. Army, reinforcing demand for its software platform. Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
• Positive Sentiment: Several articles pointed out that PLTR has become one of the most oversold mega-cap tech names, suggesting the stock may be stretched too far to the downside. Palantir Becomes Most Oversold Mega-Cap Tech Stock
• Neutral Sentiment: Palantir’s recent rebound also came as software stocks outperformed semiconductors, reflecting a broader sector rotation rather than a company-specific breakthrough. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Negative Sentiment: Despite the bounce, Palantir is still under pressure from a broad AI/software selloff, concerns about rich valuation, and fear that expectations ran ahead of fundamentals. Why Palantir Stock Soared Today
• Negative Sentiment: Bearish coverage also continued, including a Seeking Alpha piece on “accelerating AI risks,” underscoring investor worries about competition and the sustainability of Palantir’s premium multiple. Palantir: Accelerating AI Risks

Analyst Ratings Changes

Several analysts recently issued reports on the stock. HSBC downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $205.00 to $151.00 in a report on Friday, May 1st. Argus raised shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a research report on Wednesday, May 6th. Mizuho decreased their price target on shares of Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. Benchmark downgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, June 16th. Finally, Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $192.76.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 397,744 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the sale, the insider owned 6,432,258 shares of the company's stock, valued at $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the transaction, the insider directly owned 199,759 shares of the company's stock, valued at $27,175,214.36. This trade represents a 8.96% 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 quarter, insiders have sold 927,270 shares of company stock worth $126,197,785. Insiders own 9.53% of the company's stock.

About Palantir Technologies

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.

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