Cibc World Market Inc. Sells 24,682 Shares of Palantir Technologies Inc. $PLTR

Key Points

• CIBC World Market Inc. reduced its Palantir stake by 8% in the fourth quarter, selling 24,682 shares and ending with 282,509 shares valued at about $50.2 million.
• Palantir continues to see mixed institutional activity: several other funds increased or adjusted holdings, and institutional investors now own 45.65% of the company.
• The company posted strong quarterly results, with EPS of $0.33 and revenue of $1.63 billion, both beating expectations, while analysts currently rate the stock a Moderate Buy with a consensus target price of $192.76.

Cibc World Market Inc. trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 282,509 shares of the company's stock after selling 24,682 shares during the quarter. Cibc World Market Inc.'s holdings in Palantir Technologies were worth $50,216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Gallacher Capital Management LLC lifted its position in shares of Palantir Technologies by 2.2% in the 3rd quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company's stock worth $447,000 after purchasing an additional 53 shares during the period. Bare Financial Services Inc raised its stake in Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after buying an additional 55 shares in the last quarter. AlphaQuest LLC raised its stake in Palantir Technologies by 15.8% in the third quarter. AlphaQuest LLC now owns 425 shares of the company's stock worth $78,000 after buying an additional 58 shares in the last quarter. Beaumont Financial Advisors LLC lifted its holdings in Palantir Technologies by 2.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company's stock worth $527,000 after buying an additional 59 shares during the period. Finally, Transcend Capital Advisors LLC boosted its position in Palantir Technologies by 0.6% during the 4th quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company's stock valued at $1,890,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir announced an expanded partnership with Google Cloud that connects Foundry and AIP with Gemini and BigQuery, and makes Palantir available on Google Cloud Marketplace, which could broaden adoption and distribution. Palantir Announces Availability on Google Cloud Marketplace, Including Two-Way Integrations between BigQuery and Foundry and Deep Connectivity between Gemini and AIP
• Positive Sentiment: The company also unveiled several new enterprise deals at AIPCon 10, including a multi-year partnership with Kirkland & Ellis, a strategic deal with McCarthy Building Companies, and an expansion agreement with GNP Seguros, reinforcing commercial momentum beyond government contracts. GNP Seguros Announces Enterprise Expansion of Palantir Foundry and AIP Across All Lines of Business
• Positive Sentiment: Palantir said customer demos at AIPCon 10 are highlighting real-world deployments of Foundry, AIP, Ontology, and Apollo, which supports the bull case that its AI platform is seeing meaningful usage in production. Palantir Customers Reveal How AI Amplifies Their Tradecraft at AIPCon 10
• Neutral Sentiment: Analysts and commentators are also debating whether recent volatility is just a pause after a strong run or a warning sign that Palantir’s rich valuation leaves little room for error. Is It Time To Reconsider Palantir Technologies (PLTR) After Recent Volatility And Rich Earnings Multiple
• Negative Sentiment: Michael Burry renewed his bearish stance on Palantir, adding to valuation skepticism and likely contributing to some near-term pressure on the stock. Michael Burry Takes Aim at Palantir Stock Again, But He’s Missing the Bigger Picture
• Negative Sentiment: Separate reports also noted criticism of Palantir’s U.K. NHS contract, which keeps regulatory and political risk in focus for investors. Palantir’s £330M NHS deal faces criticism from UK parliamentarians

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 319,934 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 transaction of $43,523,821.36. Following the sale, the insider owned 592 shares of the company's stock, valued at approximately $80,535.68. The trade was a 99.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the company'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 transaction of $22,516,524.56. Following the transaction, the insider owned 642,786 shares in the company, valued at $87,444,607.44. The trade was a 20.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 925,789 shares of company stock worth $126,007,032 over the last ninety days. Company insiders own 9.53% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $141.70 on Friday. The business's 50-day moving average is $141.19 and its 200 day moving average is $154.99. Palantir Technologies Inc. has a 1 year low of $118.93 and a 1 year high of $207.52. The firm has a market capitalization of $339.70 billion, a P/E ratio of 159.22, a P/E/G ratio of 2.26 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company earned $0.13 earnings per share. The company's quarterly revenue was up 84.7% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Analyst Ratings Changes

PLTR has been the subject of several recent research reports. Royal Bank Of Canada reissued an "underperform" rating and issued a $90.00 price target on shares of Palantir Technologies in a research report on Tuesday, May 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of Palantir Technologies in a research note on Thursday, May 21st. UBS Group boosted their target price on shares of Palantir Technologies from $180.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. DZ Bank initiated coverage on shares of Palantir Technologies in a research report on Thursday, April 23rd. They set a "buy" rating and a $175.00 price target for the company. Finally, Mizuho lowered their price target on shares of Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.76.

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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