Allen Investment Management LLC Has $17.73 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Allen Investment Management LLC increased its Palantir position by 5.9% in the fourth quarter, buying 5,550 more shares and bringing its total holding to 99,720 shares worth about $17.73 million.
• Palantir reported strong quarterly results, with earnings per share of $0.33 versus the $0.28 estimate and revenue of $1.63 billion, up 84.7% year over year. The company also continues to attract generally bullish Wall Street coverage, with a consensus rating of Moderate Buy.
• Despite the positive outlook, insider selling has been notable: CEO Alexander Karp and executive Ryan D. Taylor both sold shares in May, and insiders have sold a total of 922,524 shares over the past 90 days.

Allen Investment Management LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,720 shares of the company's stock after purchasing an additional 5,550 shares during the period. Allen Investment Management LLC's holdings in Palantir Technologies were worth $17,727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bare Financial Services Inc lifted its holdings in shares of Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company's stock valued at $28,000 after buying an additional 55 shares during the last quarter. Basepoint Wealth LLC bought a new stake in Palantir Technologies in the fourth quarter worth $29,000. Morton Brown Family Wealth LLC increased its position in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after buying an additional 125 shares during the last quarter. United Financial Planning Group LLC acquired a new position in Palantir Technologies during the third quarter worth $32,000. Finally, Clayton Financial Group LLC raised its holdings in Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock valued at $32,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 2.6%

PLTR opened at $160.65 on Tuesday. The stock's 50 day simple moving average is $141.80 and its 200-day simple moving average is $155.65. The stock has a market cap of $385.13 billion, a PE ratio of 180.51, a P/E/G ratio of 2.48 and a beta of 1.53. Palantir Technologies Inc. has a 1 year low of $118.93 and a 1 year high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping 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 firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company earned $0.13 earnings per share. The business's revenue was up 84.7% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. DA Davidson decreased their price target on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. DZ Bank started 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. Rosenblatt Securities restated a "buy" rating and issued a $225.00 target price on shares of Palantir Technologies in a report on Thursday, May 21st. Argus raised 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. Finally, Wedbush reissued an "outperform" rating and issued a $230.00 price target on shares of Palantir Technologies in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.76.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir shares surged as a software sector rally lifted the stock to its best intraday performance in 13 months, with the move helping it finish the week with a double-digit gain. Palantir Rally Renews This ETF's Shine
• Positive Sentiment: Traders are watching for a breakout after a period of consolidation, suggesting momentum investors see room for further upside if the stock clears resistance. Palantir Seen Ready for Next Move Higher
• Positive Sentiment: Coverage highlighting Palantir as one of the best AI stocks to buy, plus bullish commentary from Zacks and other outlets, is reinforcing the view that the company remains a top AI beneficiary. Palantir Technologies (PLTR): One of the Best Stocks to Buy Right Now According to AI
• Positive Sentiment: Multiple reports point to tailwinds from Dell-related AI infrastructure momentum and stronger sentiment across tech stocks, which are helping PLTR trade higher. Why Is Palantir Technologies Stock Trending Higher On Monday?
• Neutral Sentiment: Some commentary argues that a lot of Palantir’s expected growth is already priced in, even though the business is still growing quickly. Is Palantir Still a Millionaire-Maker Stock?
• Negative Sentiment: Bearish opinion pieces warned that Palantir could have room to decline by the end of 2027, reflecting valuation concerns after its big run. Prediction: This Will Be Palantir's Stock Price by the End of 2027

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the insider 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. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 922,524 shares of company stock valued at $125,501,302 over the last 90 days. Company insiders own 9.53% of the company's stock.

Palantir Technologies Company 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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