Allstate Corp Raises Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Allstate Corp increased its Palantir stake by 110% in the fourth quarter, ending with 173,686 shares valued at about $30.9 million.
• Palantir continues to draw mixed market attention: the company reported 84.7% year-over-year revenue growth in its latest quarter, but its stock still trades at a very rich valuation and faces debate over whether upside is already priced in.
• Insider selling remains an overhang, with recent executive sales including Shyam Sankar and David A. Glazer, bringing total insider sales to more than $125 million over the last three months.

Allstate Corp raised its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 110.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,686 shares of the company's stock after buying an additional 90,989 shares during the quarter. Allstate Corp's holdings in Palantir Technologies were worth $30,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bare Financial Services Inc lifted its stake in Palantir Technologies by 54.5% in the third 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. United Financial Planning Group LLC purchased a new stake in Palantir Technologies in the third quarter valued at approximately $32,000. Morton Brown Family Wealth LLC lifted its stake in Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after buying an additional 125 shares during the last quarter. Clayton Financial Group LLC lifted its stake in Palantir Technologies by 500.0% in 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 during the last quarter. Finally, Wexford Capital LP purchased a new stake in Palantir Technologies in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Several recent articles highlight Palantir’s rapid revenue growth, recurring customer revenue, and strong AI-driven business momentum, with some analysts and commentators saying the stock still has meaningful upside. Is the Palantir Valuation Debate Over? Why Some Analysts See 86% Upside in the Agentic AI Era.
• Positive Sentiment: Palantir and Dell unveiled a secure AI operating system aimed at defense, healthcare, and regulated enterprise customers, reinforcing the company’s addressable market in high-value sectors. Palantir and Dell Build an AI OS for the Paranoid
• Positive Sentiment: Wall Street coverage remains constructive overall, with firms like Rosenblatt, Citigroup, and Wedbush publishing high price targets that imply substantial upside from current levels. Palantir (PLTR) Ranks Among Best Revenue Growth Stocks to Buy
• Neutral Sentiment: Cantor Fitzgerald reiterated a Neutral rating and a $138 price target, signaling that some analysts still see limited near-term upside despite Palantir’s strong growth profile. Palantir (PLTR) Ranks Among Best Revenue Growth Stocks to Buy
• Neutral Sentiment: Articles debating Palantir’s valuation and comparing it with AI competition suggest investors are still weighing whether the stock’s premium multiple is justified. Anthropic Demolished Legacy SaaS Stocks. Now It's Coming for Palantir.
• Negative Sentiment: Multiple reports of insider sales, including CEO Alex Karp and other top executives, are likely weighing on sentiment and may fuel concerns that management is taking profits after the stock’s big run. Palantir (PLTR) CEO Alex Karp Continues to Sell Company Stock
• Negative Sentiment: Fresh insider-trading filings show additional executive selling, adding to the overhang from more than $120 million in coordinated RSU tax sales. Palantir (PLTR) Stock: Top Execs Unload $120M+ in Coordinated RSU Tax Sale
• Negative Sentiment: Some market commentary also points to Palantir’s rich valuation and competition from newer AI platforms as risks to future upside. Palantir Is 1 of the Fastest-Growing AI Companies, but Does That Make It a Buy?

Insider Activity

In related news, insider David A. Glazer sold 17,128 shares of the company'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 $2,330,093.12. Following the transaction, the insider owned 375,242 shares of the company's stock, valued at $51,047,921.68. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the transaction, the insider directly owned 642,786 shares in the company, valued at $87,444,607.44. This represents a 20.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 three months. 9.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLTR. Wedbush restated an "outperform" rating and set a $230.00 price target on shares of Palantir Technologies in a research note on Tuesday, May 5th. Phillip Securities upped their price target on Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. DA Davidson cut 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. The Goldman Sachs Group cut their price target on Palantir Technologies from $188.00 to $182.00 in a research note on Tuesday, February 3rd. Finally, Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $192.76.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $136.88 on Tuesday. Palantir Technologies Inc. has a 12 month low of $118.93 and a 12 month high of $207.52. The business has a 50 day simple moving average of $142.55 and a 200-day simple moving average of $157.03. The stock has a market capitalization of $328.14 billion, a PE ratio of 153.80, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data 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 return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. Palantir Technologies's quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current year.

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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