Benningfield Financial Advisors LLC Sells 19,900 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Benningfield Financial Advisors cut its Palantir stake by 18.5% in the first quarter, selling 19,900 shares and leaving it with 87,440 shares worth about $12.8 million. Palantir still remains a meaningful position, making up about 10.1% of the fund’s portfolio.
• Palantir’s stock was down 1.5% in Friday trading, opening at $132.38. The company remains highly valued, with a market cap of $317.36 billion and a trailing P/E ratio of 148.74.
• The company recently beat earnings expectations, posting $0.33 EPS versus the $0.28 estimate, while revenue rose 84.7% year over year to $1.63 billion. Analyst sentiment is mixed but still constructive overall, with a Moderate Buy consensus and a target price of $190.85.

Benningfield Financial Advisors LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 18.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,440 shares of the company's stock after selling 19,900 shares during the period. Palantir Technologies makes up about 10.1% of Benningfield Financial Advisors LLC's portfolio, making the stock its 6th biggest holding. Benningfield Financial Advisors LLC's holdings in Palantir Technologies were worth $12,791,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Beaumont Financial Advisors LLC raised its stake in Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company's stock valued at $527,000 after buying an additional 59 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Palantir Technologies by 0.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company's stock worth $1,890,000 after acquiring an additional 60 shares during the last quarter. Sandbox Financial Partners LLC increased its holdings in shares of Palantir Technologies by 1.3% during the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company's stock valued at $873,000 after acquiring an additional 61 shares in the last quarter. San Luis Wealth Advisors LLC increased its holdings in shares of Palantir Technologies by 1.6% during the fourth quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company's stock valued at $726,000 after acquiring an additional 63 shares in the last quarter. Finally, Monument Capital Management increased its holdings in shares of Palantir Technologies by 1.2% during the fourth quarter. Monument Capital Management now owns 5,341 shares of the company's stock valued at $949,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Down 1.5%

PLTR opened at $132.38 on Friday. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52. The firm has a 50 day moving average of $132.20 and a two-hundred day moving average of $144.30. The firm has a market capitalization of $317.36 billion, a PE ratio of 148.74, a P/E/G ratio of 2.12 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the business earned $0.13 earnings per share. The business's quarterly revenue was up 84.7% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent analyst reports. BNP Paribas Exane began coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They issued an "underperform" rating for the company. HSBC lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating and cut their price target for the company from $205.00 to $151.00 in a research note on Friday, May 1st. Mizuho lowered their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a research note on Tuesday, April 14th. DA Davidson reiterated a "buy" rating and set a $175.00 price objective on shares of Palantir Technologies in a research note on Friday. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $138.00 price objective on shares of Palantir Technologies in a report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $190.85.

Key Palantir Technologies News

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, Director Lauren Elaina Friedman Stat sold 1,598 shares of the 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 sale, the director directly owned 55,022 shares of the company's stock, valued at approximately $8,803,520. This trade represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction dated 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 owned 60,226 shares of the company's stock, valued at $7,757,108.80. The trade was a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,112,270 shares of company stock worth $150,247,785 in the last three months. Company insiders own 9.53% of the company's stock.

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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