Everhart Financial Group Inc. Trims Stake in Palantir Technologies Inc. $PLTR

Key Points

• Everhart Financial Group reduced its Palantir stake by 17.5% in the second quarter, selling 4,970 shares and retaining 23,358 shares valued at approximately $2.7 million. Hedge funds and institutional investors collectively own 45.65% of the stock.
• Palantir reported strong quarterly results, with revenue rising 92.8% year over year to $1.94 billion and EPS of $0.41, exceeding analyst estimates. Analysts’ consensus rating remains “Moderate Buy,” with an average price target of $190.73.
• Valuation and insider selling remain risks: Palantir trades at a P/E ratio above 147, while insiders sold more than 1.1 million shares worth about $150.7 million over the past 90 days, primarily to cover tax obligations from vested equity awards.

Everhart Financial Group Inc. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,358 shares of the company's stock after selling 4,970 shares during the quarter. Everhart Financial Group Inc.'s holdings in Palantir Technologies were worth $2,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Basepoint Wealth LLC purchased a new stake in Palantir Technologies in the fourth quarter worth about $29,000. Ballast Advisors LLC purchased a new position in shares of Palantir Technologies during the 1st quarter valued at about $29,000. Morton Brown Family Wealth LLC lifted its position in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after buying an additional 125 shares in the last quarter. Cornerstone Financial Management LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $31,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $32,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

More Palantir Technologies News

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

• Positive Sentiment: Exceptional second-quarter results remain the primary catalyst. Palantir reported revenue of $1.94 billion, up 93% year over year and ahead of the $1.81 billion consensus estimate. Strong U.S. commercial growth, expanding margins and raised guidance reinforced expectations that demand for its Artificial Intelligence Platform (AIP) is translating into substantial customer contracts. Palantir’s stock stages best week since 2024 — showing it’s no longer an AI loser
• Positive Sentiment: Analysts are raising earnings expectations. Northland Securities lifted its FY2026 EPS forecast to $1.24 from $1.08 and its FY2027 estimate to $1.53 from $1.39, while also raising quarterly projections. The revisions suggest the earnings surge may be more durable than a one-quarter event. Northland Securities earnings estimates
• Positive Sentiment: A weaker-than-expected July jobs report boosted technology stocks. The data reduced expectations for a near-term Federal Reserve rate hike, supporting high-growth software valuations and helping agentic-AI peers rally alongside PLTR. SpaceX and Palantir lead tech stock rally after underwhelming jobs report
• Neutral Sentiment: Technical traders viewed the move above resistance near $160 as a potential breakout, which may be attracting momentum-oriented buying. Stock of the Day: Is Palantir Breaking Out?
• Negative Sentiment: Valuation and investor selling remain important risks. With a very high earnings multiple, the stock requires continued exceptional growth. Michael Burry continues to hold a bearish position, while ARK Invest trimmed its PLTR stake after the rally, signaling that some investors are taking profits. Why Michael Burry is still shorting Palantir

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 165,514 shares of the business'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 $22,516,524.56. Following the sale, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,330,093.12. Following the transaction, the insider owned 375,242 shares of the company's stock, valued at approximately $51,047,921.68. The trade was a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,115,302 shares of company stock valued at $150,748,065 in the last ninety days. Corporate insiders own 9.53% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho increased their target price on shares of Palantir Technologies from $185.00 to $215.00 and gave the stock an "outperform" rating in a report on Tuesday. Phillip Securities lifted their price target on shares of Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Oppenheimer lowered shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a research report on Tuesday. Benchmark reissued a "hold" rating on shares of Palantir Technologies in a research note on Tuesday. Finally, HSBC downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating and decreased their price objective for the company from $205.00 to $151.00 in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Palantir Technologies has an average rating of "Moderate Buy" and an average target price of $190.73.

Palantir Technologies Trading Up 10.3%

NASDAQ:PLTR opened at $172.01 on Friday. The stock has a 50-day moving average price of $131.76 and a 200 day moving average price of $139.92. The stock has a market capitalization of $412.36 billion, a P/E ratio of 147.02, a P/E/G ratio of 2.50 and a beta of 1.59. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the company posted $0.16 EPS. The firm's revenue for the quarter was up 92.8% compared to the same quarter last year. On average, research analysts predict that Palantir Technologies Inc. will post 1.26 earnings per share for the current fiscal year.

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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