Elite Wealth Management Inc. Has $9.65 Million Stake in Palantir Technologies Inc. $PLTR

Elite Wealth Management Inc. trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,939 shares of the company's stock after selling 5,827 shares during the period. Palantir Technologies makes up approximately 3.1% of Elite Wealth Management Inc.'s portfolio, making the stock its 8th biggest holding. Elite Wealth Management Inc.'s holdings in Palantir Technologies were worth $9,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 0.7% in 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 last quarter. State Street Corp raised its position in shares of Palantir Technologies by 1.1% during the 4th quarter. State Street Corp now owns 102,385,317 shares of the company's stock valued at $18,198,990,000 after buying an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 1.5% during the 4th 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 during the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter worth $5,149,641,000. Finally, Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 2.8% during the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock worth $3,984,281,000 after acquiring an additional 616,297 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 319,934 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. This represents a 99.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the firm'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 value of $2,674,818.48. Following the completion of the transaction, the insider owned 199,759 shares of the company's stock, valued at approximately $27,175,214.36. The trade was a 8.96% 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. In the last quarter, insiders sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is owned by corporate insiders.

Palantir Technologies News Roundup

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

• Positive Sentiment: Oppenheimer maintained its bullish outlook, reiterating an Outperform rating and a $200 price target. The firm expects Palantir to deliver a solid second-quarter earnings beat and potentially raise its outlook, with revenue growth of roughly 85% supporting the case. Oppenheimer Lays Out Expectations for Palantir Stock Ahead of August 3 Earnings
• Positive Sentiment: Strong operating momentum is attracting buyers ahead of the August 3 earnings release. Recent results showed revenue growth above 80%, while analysts and bullish commentators believe commercial adoption of Palantir’s AI platform could support another meaningful beat. Several published price targets remain well above the current trading level, including Oppenheimer’s $200 target. Palantir Stock Surges as Oppenheimer Predicts Strong Q2 Earnings Beat
• Positive Sentiment: Palantir’s AI infrastructure and software positioning remains a long-term catalyst. Commentary contrasting Palantir with hardware-focused technology companies suggests that continued spending on AI infrastructure could increase demand for the software and operating systems that run on top of it. IBM Fell 25% as Hardware Spending Dominated AI Budgets

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wolfe Research raised Palantir Technologies from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, June 16th. Citigroup dropped their price target on Palantir Technologies from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Friday. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price objective on shares of Palantir Technologies in a report on Friday, June 5th. Cantor Fitzgerald reiterated a "neutral" rating and set a $138.00 price objective on shares of Palantir Technologies in a research report on Friday, May 22nd. Finally, DA Davidson reissued a "buy" rating and set a $175.00 price objective on shares of Palantir Technologies in a report on Friday, July 17th. Two 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $189.88.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $131.53 on Tuesday. The firm has a market cap of $315.32 billion, a PE ratio of 147.79, a price-to-earnings-growth ratio of 1.96 and a beta of 1.56. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The business has a 50 day moving average price of $131.48 and a 200-day moving average price of $141.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS. Research analysts predict that Palantir Technologies Inc. will post 1.17 EPS for the current year.

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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