Assetmark Inc. Has $55.66 Million Stake in Palantir Technologies Inc. $PLTR

Key Points

• Assetmark Inc. increased its Palantir stake by 1.8% in the first quarter, bringing its holdings to 380,533 shares worth about $55.66 million.
• Palantir continues to attract attention from major institutions and analysts, with several firms initiating or reiterating buy ratings and a consensus price target of $190.85.
• The company reported strong quarterly results, including 84.7% revenue growth year over year and EPS of $0.33 versus estimates of $0.28, while insiders also disclosed recent stock sales tied to tax withholding obligations.

Assetmark Inc. raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 380,533 shares of the company's stock after purchasing an additional 6,668 shares during the period. Assetmark Inc.'s holdings in Palantir Technologies were worth $55,664,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Basepoint Wealth LLC acquired a new stake in Palantir Technologies in the 4th quarter worth about $29,000. Morton Brown Family Wealth LLC grew its position in Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after acquiring an additional 125 shares during the last quarter. Cornerstone Financial Management LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $31,000. Clayton Financial Group LLC lifted its holdings in Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after buying an additional 150 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth $32,000. 45.65% of the stock is owned by institutional investors.

Key Stories Impacting Palantir Technologies

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 other Palantir Technologies news, insider David A. Glazer sold 17,128 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares of the company's stock, valued at $51,047,921.68. The trade was a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction on 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 completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This represents a 5.82% 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 1,112,270 shares of company stock valued at $150,247,785 in the last ninety days. Insiders own 9.53% of the company's stock.

Palantir Technologies Trading Down 1.5%

PLTR stock opened at $132.38 on Friday. The firm has a 50 day moving average of $132.20 and a 200-day moving average of $144.30. The firm has a market capitalization of $317.36 billion, a P/E ratio of 148.74, a price-to-earnings-growth ratio of 2.15 and a beta of 1.56. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $207.52.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLTR shares. Oppenheimer initiated coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an "outperform" rating and a $200.00 price objective on the stock. DZ Bank initiated coverage on shares of Palantir Technologies in a research note on Thursday, April 23rd. They issued a "buy" rating and a $175.00 price objective on the stock. HSBC downgraded Palantir Technologies from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $205.00 to $151.00 in a research note on Friday, May 1st. BNP Paribas Exane began coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They set an "underperform" rating on the stock. Finally, DA Davidson restated a "buy" rating and set a $175.00 price target on shares of Palantir Technologies in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $190.85.

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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