FFG Partners LLC Trims Position in Palantir Technologies Inc. $PLTR

Key Points

• FFG Partners LLC reduced its Palantir stake by 8.9% in the first quarter, selling 13,902 shares and leaving it with 142,825 shares worth about $20.9 million. Palantir still represents roughly 8.3% of the fund’s holdings and is its third-largest position.
• Palantir reported strong quarterly results, with EPS of $0.33 beating estimates by $0.05 and revenue of $1.63 billion topping expectations. Revenue jumped 84.7% year over year, and analysts expect $1.18 EPS for the current fiscal year.
• Despite recent stock weakness, analysts remain generally positive: the stock opened at $119.50, near its 52-week low, while institutional ownership remains high at 45.65%. Several firms have maintained or raised ratings, and the consensus view is still “Moderate Buy” with a $192.76 target price.

FFG Partners LLC lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,825 shares of the company's stock after selling 13,902 shares during the period. Palantir Technologies makes up approximately 8.3% of FFG Partners LLC's holdings, making the stock its 3rd largest holding. FFG Partners LLC's holdings in Palantir Technologies were worth $20,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock valued at $38,295,188,000 after purchasing an additional 1,557,828 shares during the period. State Street Corp raised its holdings in 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 during the last quarter. Geode Capital Management LLC raised its holdings in Palantir Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock valued at $9,599,882,000 after buying an additional 805,047 shares during the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the 4th quarter valued at $5,149,641,000. Finally, Invesco Ltd. boosted its position in Palantir Technologies by 2.8% during the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock valued at $3,984,281,000 after buying an additional 616,297 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

PLTR stock opened at $119.50 on Tuesday. Palantir Technologies Inc. has a 1 year low of $119.20 and a 1 year high of $207.52. The firm has a 50-day moving average of $137.72 and a 200 day moving average of $152.10. The company has a market cap of $286.48 billion, a P/E ratio of 134.27, a PEG ratio of 2.04 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the previous year, the firm posted $0.13 EPS. The business's revenue was up 84.7% on a year-over-year basis. On average, equities research analysts expect that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir announced it secured a foundational role in the U.S. Army’s Next Generation Command and Control data layer, reinforcing its position in defense modernization and supporting its long-term government revenue story. Palantir Secures Foundational Role in NGC2 Data Layer
• Positive Sentiment: Several recent commentaries highlighted Palantir’s strong fundamentals, including rapid U.S. revenue growth and continued analyst optimism, suggesting some investors still see value after the pullback. Palantir's 104% U.S. Revenue Growth is the One Number You Should Watch
• Neutral Sentiment: Some articles argued the stock may now be more fairly valued after its recent pullback, but others said the valuation still leaves little room for error given the premium multiple. Palantir Technologies (PLTR) Stock After Recent Pullback Is The Price Now Fair?
• Negative Sentiment: Palantir hit a new 52-week low as traders reduced exposure to expensive AI/software stocks, and several reports flagged the stock’s weakness relative to the broader market and peers. What Happened With Palantir Stock Today?
• Negative Sentiment: Reports that France’s domestic intelligence agency is replacing Palantir with a local rival and that Palantir lost a major international contract are weighing on sentiment around overseas government demand. French Domestic Intelligence Agency Replaces Palantir (PLTR) for Local Rival, Reuters Reports

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Oppenheimer initiated coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an "outperform" rating and a $200.00 target price for the company. UBS Group raised Palantir Technologies from a "buy" rating to a "buy" rating in a research note on Tuesday, June 16th. Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Finally, Mizuho lowered their price target on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a research report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.76.

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 17,128 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares in the company, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the firm'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 transaction, the insider directly owned 592 shares of the company's stock, valued at $80,535.68. This represents a 99.82% 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 have sold a total of 927,270 shares of company stock worth $126,197,785 over the last quarter. Company insiders own 9.53% of the company's stock.

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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