Allen Holding Inc. NY Cuts Position in Palantir Technologies Inc. $PLTR

Key Points

• Allen Holding Inc. NY cut its Palantir stake by 6.2% in the first quarter, selling 100,000 shares but still holding 1.5 million shares worth about $219.4 million. Palantir remains its second-largest position and makes up about 21.8% of its portfolio.
• Palantir reported strong quarterly results, posting EPS of $0.33 versus $0.28 expected and revenue of $1.63 billion, up 84.7% year over year. Analysts now expect the company to earn $1.17 per share for the full year.
• Wall Street remains broadly positive on PLTR, with a Moderate Buy consensus and an average price target of $190.85. Recent notes highlighted bullish catalysts including a Nvidia partnership on sovereign AI, even as some insiders and funds have trimmed their holdings.

Allen Holding Inc. NY lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,500,000 shares of the company's stock after selling 100,000 shares during the period. Palantir Technologies makes up about 21.8% of Allen Holding Inc. NY's holdings, making the stock its 2nd biggest position. Allen Holding Inc. NY owned 0.06% of Palantir Technologies worth $219,420,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Commonwealth Financial Services LLC increased its holdings in shares of Palantir Technologies by 14.6% during the first quarter. Commonwealth Financial Services LLC now owns 4,803 shares of the company's stock valued at $703,000 after acquiring an additional 613 shares in the last quarter. Scarborough Advisors LLC raised its holdings in shares of Palantir Technologies by 4.2% in the first quarter. Scarborough Advisors LLC now owns 3,987 shares of the company's stock valued at $583,000 after purchasing an additional 161 shares during the last quarter. Balefire LLC increased its stake in Palantir Technologies by 5.8% in the 1st quarter. Balefire LLC now owns 5,799 shares of the company's stock valued at $848,000 after buying an additional 320 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Palantir Technologies by 1.3% during the first quarter. Parallel Advisors LLC now owns 203,398 shares of the company's stock worth $29,753,000 after acquiring an additional 2,573 shares during the period. Finally, Ironwood Investment Counsel LLC raised its stake in shares of Palantir Technologies by 13.9% during the 1st quarter. Ironwood Investment Counsel LLC now owns 4,975 shares of the company's stock worth $728,000 after purchasing an additional 606 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $132.38 on Monday. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The stock has a market cap of $317.36 billion, a P/E ratio of 148.74, a PEG ratio of 2.12 and a beta of 1.56. The firm's fifty day moving average price is $132.20 and its 200-day moving average price is $144.02.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company earned $0.13 earnings per share. The firm's quarterly revenue was up 84.7% on a year-over-year basis. Sell-side analysts predict that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research analyst reports. Wedbush initiated coverage on Palantir Technologies in a research note on Tuesday, June 16th. They issued an "outperform" rating on the stock. Phillip Securities lifted their price target on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. HSBC cut Palantir Technologies from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $205.00 to $151.00 in a report on Friday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of Palantir Technologies in a report on Friday, June 5th. Finally, UBS Group upgraded Palantir Technologies from a "buy" rating to a "buy" rating in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $190.85.

Key Palantir Technologies News

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

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 35,000 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $130.00, for a total value of $4,550,000.00. Following the transaction, the insider owned 642,786 shares of the company's stock, valued at $83,562,180. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 397,744 shares of the firm'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 in the company, valued at $875,044,378.32. The trade was a 5.82% 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. Insiders sold a total of 1,112,270 shares of company stock worth $150,247,785 in the last three months. 9.53% of the stock is owned by insiders.

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.

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