Bank Julius Baer & Co. Ltd Zurich Reduces Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Bank Julius Baer & Co. Ltd Zurich cut its Palantir position by 4.6% in the fourth quarter, selling 12,460 shares and ending with 259,158 shares valued at about $46.1 million.
• Institutional ownership remains significant, with hedge funds and other investors actively adjusting their stakes; overall, institutions own 45.65% of Palantir’s stock.
• Analyst sentiment is still broadly positive after Palantir’s strong Q1 results, with several firms raising price targets, while the stock’s latest earnings beat showed 84.7% year-over-year revenue growth and EPS above estimates.

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 259,158 shares of the company's stock after selling 12,460 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Palantir Technologies were worth $46,065,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Milestone Asset Management LLC grew its holdings in shares of Palantir Technologies by 229.5% during the fourth quarter. Milestone Asset Management LLC now owns 60,551 shares of the company's stock worth $10,763,000 after buying an additional 42,173 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its stake in shares of Palantir Technologies by 26.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 58,548 shares of the company's stock valued at $10,680,000 after buying an additional 12,229 shares during the period. Public Sector Pension Investment Board boosted its position in Palantir Technologies by 135.3% during the third quarter. Public Sector Pension Investment Board now owns 540,835 shares of the company's stock worth $98,659,000 after acquiring an additional 310,942 shares during the last quarter. VCI Wealth Management LLC grew its stake in Palantir Technologies by 42.3% in the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company's stock worth $2,166,000 after acquiring an additional 3,621 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in Palantir Technologies in the 4th quarter valued at $222,143,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Zacks Research raised Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Phillip Securities raised their price target on Palantir Technologies from $190.00 to $202.00 in a research note on Monday. HSBC cut Palantir Technologies from a "buy" rating to a "hold" rating and lowered their price target for the company from $205.00 to $151.00 in a report on Friday, May 1st. Oppenheimer began 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. Finally, Citigroup boosted their target price on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $195.16.

Palantir Technologies News Roundup

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

• Positive Sentiment: Analyst optimism remains a tailwind, with Freedom Broker reportedly raising its price target on Palantir to $230 and reiterating a Buy rating after the company’s strong Q1 results. Freedom Broker Lifts Palantir (PLTR) Price Target After Strong Results
• Positive Sentiment: Multiple pieces argue the post-earnings selloff may be overdone, citing Palantir’s rapid revenue growth, expanding commercial adoption, and the view that the AI boom is still early in its cycle. Ignore the Post-Earnings Selloff in Palantir Stock: The AI Revolution Is Just in the ‘Third Inning’
• Positive Sentiment: Palantir’s defense and autonomy ecosystem is also in focus after partner Ondas reported explosive revenue growth and raised guidance, which helps validate Palantir’s presence in fast-growing defense-tech use cases. Palantir-Backed Ondas Stock Soars. Autonomous Drone Company Sees Revenue Grow 1,065%.
• Positive Sentiment: Palantir also got a boost from news that its AI capabilities may be further leveraged in Ukraine’s war effort, reinforcing the company’s strategic relevance in defense and government contracts. Ukraine Will Leverage Palantir’s AI Capabilities In Its War With Russia. This Helps Prove PLTR Stock Will Never Be Irrelevant.
• Neutral Sentiment: Some headlines are highlighting heavier retail selling, insider selling, and valuation concerns, suggesting part of the market still sees PLTR as expensive after its big run. Retail traders are trimming holdings of longtime AI favorite Palantir in a pivot from software stocks
• Neutral Sentiment: Other coverage notes that Google’s expanded DoD AI contract could increase competition for government AI spending, which may pressure sentiment around Palantir’s long-term growth runway. Why Palantir Suddenly Looks Vulnerable After Google’s Move (PLTR)

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 327,088 shares of the company's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $43,738,207.36. Following the completion of the sale, the insider directly owned 592 shares of the company's stock, valued at approximately $79,162.24. This represents a 99.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Buckley sold 1,232 shares of the firm's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $129.08, for a total value of $159,026.56. Following the completion of the transaction, the insider directly owned 43,108 shares in the company, valued at $5,564,380.64. This trade represents a 2.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,029,479 shares of company stock valued at $137,685,797. 9.53% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $133.73 on Friday. The company has a market cap of $320.59 billion, a price-to-earnings ratio of 150.26, a price-to-earnings-growth ratio of 2.06 and a beta of 1.52. Palantir Technologies Inc. has a 12 month low of $118.93 and a 12 month high of $207.52. The stock's 50-day moving average is $145.01 and its 200-day moving average is $159.97.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company earned $0.13 EPS. The company's revenue was up 84.7% on a year-over-year basis. 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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