Bellwether Advisors LLC Has $2.42 Million Stake in Palantir Technologies Inc. $PLTR

Key Points

• Bellwether Advisors LLC cut its Palantir position by 67.1% in the first quarter, leaving it with 16,543 shares valued at about $2.42 million.
• Insiders have also been selling: Shyam Sankar sold 35,000 shares and Stephen Andrew Cohen sold 319,934 shares, while insiders collectively sold more than 1.1 million shares last quarter.
• Palantir remains heavily followed by analysts and institutions, with the stock recently trading around $132.66 after reporting strong quarterly results that beat EPS and revenue estimates; Wall Street’s consensus rating is Moderate Buy with a price target of $190.85.

Bellwether Advisors LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 67.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,543 shares of the company's stock after selling 33,812 shares during the quarter. Bellwether Advisors LLC's holdings in Palantir Technologies were worth $2,420,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of 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 buying an additional 1,557,828 shares during the period. State Street Corp boosted its stake in Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company's stock worth $18,198,990,000 after acquiring an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC boosted its stake in Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock worth $9,599,882,000 after acquiring an additional 805,047 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the fourth quarter worth $5,149,641,000. Finally, Invesco Ltd. grew its holdings in Palantir Technologies by 2.8% in the fourth quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock worth $3,984,281,000 after purchasing an additional 616,297 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 35,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $130.00, for a total transaction of $4,550,000.00. Following the transaction, the insider owned 642,786 shares of the company's stock, valued at $83,562,180. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 on Wednesday, May 20th. The stock was 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 of the company's stock, valued at $80,535.68. This trade represents a 99.82% 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. Over the last quarter, insiders sold 1,112,270 shares of company stock valued at $150,247,785. Corporate insiders own 9.53% of the company's stock.

Palantir Technologies Trading Down 1.6%

PLTR opened at $132.66 on Wednesday. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52. The company has a market cap of $318.03 billion, a price-to-earnings ratio of 149.06, a PEG ratio of 2.16 and a beta of 1.56. The company's fifty day moving average price is $132.09 and its two-hundred day moving average price is $143.38.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $1.54 billion. During the same period last year, the company earned $0.13 earnings per share. The business's revenue was up 84.7% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on PLTR. Benchmark downgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, June 16th. President Capital raised shares of Palantir Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $25.50 to $133.00 in a research report on Monday, June 29th. Wedbush began coverage on Palantir Technologies in a research note on Tuesday, June 16th. They issued an "outperform" rating for the company. UBS Group raised Palantir Technologies from a "buy" rating to a "buy" rating in a research report on Tuesday, June 16th. Finally, Citigroup upped their price target on Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.85.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Palantir’s AI software demand continues to support rapid revenue growth, with recent coverage highlighting strong first-quarter results, rising contract value, and growing adoption of its Artificial Intelligence Platform by U.S. commercial customers. Palantir Stock Extends Recovery on Strong AI Software Demand
• Positive Sentiment: Multiple bullish outlook pieces say Palantir could rally further into its upcoming Aug. 3 report, as investors look for another earnings beat and guidance raise to extend the stock’s recovery. Prediction: Palantir Stock Will Go Parabolic After Aug. 3. Here's Why
• Positive Sentiment: Commentary also points to Palantir’s unique Ontology platform and its growing footprint across government and enterprise customers as reasons some investors still see substantial long-term upside. Prediction: This Could Be Palantir's Stock Price By the End of 2027
• Neutral Sentiment: Several articles are debating whether Palantir is now a buy after its pullback, but these pieces mostly reinforce that the key issue remains valuation rather than the company’s operating performance. Palantir Stock Is Down More Than 35% from Its Peak. Is It Finally a Buy?
• Negative Sentiment: Bearish coverage continues to pressure sentiment by emphasizing that Palantir trades at a rich multiple, leaving the stock vulnerable if growth slows or the next update fails to impress. Palantir: The Stock Is Richly Valued With a Forward P/S Multiple of Over 40x, but Is the Growth Story Still Worth Buying Into?

About Palantir Technologies

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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