Arax Advisory Partners Sells 37,497 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Arax Advisory Partners cut its Palantir stake by 70.8% in the fourth quarter, selling 37,497 shares and leaving it with 15,478 shares valued at about $2.75 million.
• Palantir reported a strong quarter, with earnings of $0.33 per share and revenue of $1.63 billion, both above analyst expectations; revenue jumped 84.7% year over year.
• Analysts remain mixed but generally constructive, with Palantir carrying an average “Moderate Buy” rating and a consensus price target of $192.76, even as some firms trimmed targets or maintained neutral views.

Arax Advisory Partners lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 70.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,478 shares of the company's stock after selling 37,497 shares during the period. Arax Advisory Partners' holdings in Palantir Technologies were worth $2,751,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Palantir Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock worth $38,295,188,000 after purchasing an additional 1,557,828 shares in the last quarter. State Street Corp lifted its holdings in shares of Palantir Technologies by 1.1% in the fourth quarter. State Street Corp now owns 102,385,317 shares of the company's stock valued at $18,198,990,000 after purchasing an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock valued at $9,599,882,000 after buying an additional 805,047 shares during the last quarter. Norges Bank purchased a new position in Palantir Technologies during the 4th quarter worth $5,149,641,000. Finally, Invesco Ltd. grew its stake in shares of Palantir Technologies by 5.9% in the 3rd quarter. Invesco Ltd. now owns 21,798,785 shares of the company's stock worth $3,976,534,000 after acquiring an additional 1,213,529 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 1,598 shares of Palantir Technologies stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $255,680.00. Following the completion of the transaction, the director owned 55,022 shares of the company's stock, valued at $8,803,520. The trade was a 2.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 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 $43,523,821.36. Following the sale, the insider owned 592 shares in the company, valued at approximately $80,535.68. This represents a 99.82% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 925,789 shares of company stock valued at $126,007,032. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $127.99 on Monday. The stock has a market capitalization of $306.83 billion, a P/E ratio of 143.81, a P/E/G ratio of 2.03 and a beta of 1.53. Palantir Technologies Inc. has a 52-week low of $122.68 and a 52-week high of $207.52. The stock's 50-day simple moving average is $139.54 and its 200 day simple moving average is $153.70.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. DA Davidson lowered their target price on shares of Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. Weiss Ratings downgraded Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, April 27th. Citigroup upped their target price on Palantir Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Benchmark assumed coverage on Palantir Technologies in a research report on Wednesday, April 1st. They set a "hold" rating for the company. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $138.00 target price on shares of Palantir Technologies in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Palantir Technologies has an average rating of "Moderate Buy" and an average target price of $192.76.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR's Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

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.

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.