Axxcess Wealth Management LLC Sells 45,066 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Axxcess Wealth Management cut its Palantir stake by 38.1% in the first quarter, selling 45,066 shares and leaving it with 73,285 shares valued at about $10.6 million.
• Institutional ownership remains substantial, with large investors like Vanguard, State Street, and Geode all holding sizable positions; hedge funds and institutions collectively own 45.65% of Palantir’s stock.
• Analyst sentiment is mostly positive, with several firms issuing or maintaining buy/outperform ratings and MarketBeat showing a consensus rating of “Moderate Buy” with an average price target of $190.85.

Axxcess Wealth Management LLC trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 38.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,285 shares of the company's stock after selling 45,066 shares during the quarter. Axxcess Wealth Management LLC's holdings in Palantir Technologies were worth $10,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock valued at $38,295,188,000 after purchasing an additional 1,557,828 shares during the last quarter. State Street Corp lifted its holdings in Palantir Technologies by 1.1% during the 4th quarter. State Street Corp now owns 102,385,317 shares of the company's stock worth $18,198,990,000 after buying an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC boosted its position in Palantir Technologies by 1.5% in the 4th 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 acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $5,149,641,000. Finally, Invesco Ltd. increased its stake in shares of Palantir Technologies by 2.8% in the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock valued at $3,984,281,000 after buying an additional 616,297 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PLTR shares. Wedbush began coverage on Palantir Technologies in a research report on Tuesday, June 16th. They issued an "outperform" rating for the company. Benchmark lowered shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, June 16th. 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 for the company. Phillip Securities increased their target price on shares of Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $138.00 price target 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, nineteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of "Moderate Buy" and an average target price of $190.85.

More Palantir Technologies News

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

• Positive Sentiment: Palantir announced an expansion agreement with GNP Seguros, giving it its first publicly announced commercial customer in Latin America and underscoring international growth potential. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
• Positive Sentiment: DA Davidson upgraded Palantir to Buy, adding analyst credibility to the recent rebound and supporting the view that the stock’s AI platform is gaining value with enterprises. DA Davidson Upgrades Palantir (PLTR) To Buy
• Positive Sentiment: Coverage tied Palantir’s recent move to its expanded Nvidia partnership and stronger sovereign AI positioning, which investors see as a major long-term growth channel in government and critical infrastructure. Palantir's AI Position Wins New Support From Analysts
• Positive Sentiment: Market commentary also pointed to Palantir’s defense and AI momentum, including new international contract traction and expanding adoption of its software stack, which can fuel expectations for continued revenue growth. Why Palantir Stock Ticked Higher on Tuesday

Palantir Technologies Price Performance

PLTR opened at $134.37 on Wednesday. The company has a market capitalization of $322.13 billion, a price-to-earnings ratio of 150.98, a P/E/G ratio of 2.12 and a beta of 1.56. The business's 50-day moving average price is $133.27 and its two-hundred day moving average price is $147.37. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business's quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the transaction, the insider directly owned 60,226 shares of the company's stock, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.00, for a total value of $255,680.00. Following the completion of the sale, the director directly owned 55,022 shares in the company, valued at $8,803,520. This trade represents a 2.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,112,270 shares of company stock worth $150,247,785 in the last quarter. 9.53% of the stock is owned by corporate 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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