Florida Financial Advisors LLC Has $1.06 Million Stake in Palantir Technologies Inc. $PLTR

Key Points

• Florida Financial Advisors LLC cut its Palantir stake by 70.7% in Q1, leaving it with 7,220 shares valued at about $1.06 million.
• Several other major institutions remain heavily invested in Palantir, and overall institutional ownership stands at 45.65% of the stock.
• Palantir insiders have also been selling shares recently, including CEO Alexander C. Karp and insider Shyam Sankar, though both sales were tied to tax withholding on equity awards. The company beat earnings expectations in its latest quarter, with revenue up 84.7% year over year.

Florida Financial Advisors LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 70.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,220 shares of the company's stock after selling 17,390 shares during the quarter. Florida Financial Advisors LLC's holdings in Palantir Technologies were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock valued at $38,295,188,000 after acquiring an additional 1,557,828 shares in the last quarter. State Street Corp grew its stake in Palantir Technologies by 1.1% in the fourth quarter. State Street Corp now owns 102,385,317 shares of the company's stock valued at $18,198,990,000 after purchasing an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC increased its position in Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock worth $9,599,882,000 after purchasing an additional 805,047 shares during the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $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 valued at $3,984,281,000 after buying an additional 616,297 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 397,744 shares of the company'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 $54,109,093.76. Following the sale, the insider owned 6,432,258 shares of the company's stock, valued at $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the transaction, the insider directly owned 642,786 shares of the company's stock, valued at $87,444,607.44. This trade represents 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 1,112,270 shares of company stock worth $150,247,785 in the last ninety days. Company insiders own 9.53% of the company's stock.

Palantir Technologies Stock Up 1.9%

Shares of PLTR opened at $134.85 on Tuesday. The firm has a market capitalization of $323.28 billion, a price-to-earnings ratio of 151.52, a P/E/G ratio of 2.12 and a beta of 1.56. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52. The stock's 50-day moving average price is $132.16 and its 200 day moving average price is $143.69.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.54 billion. During the same period in the prior year, the company posted $0.13 earnings per share. Palantir Technologies's revenue was up 84.7% on a year-over-year basis. Equities research analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Palantir Technologies News Summary

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

• Positive Sentiment: Several articles argue Palantir’s long-term growth case remains intact, pointing to its expanding AI software footprint and the strength of its AIP platform. Palantir: The Stock Is Richly Valued With a Forward P/S Multiple of Over 40x, but Is the Growth Story Still Worth Buying Into?
• Positive Sentiment: Commentary from top investors and market watchers says Palantir’s business momentum and product expansion could support further gains despite the stock’s premium valuation. It’s Not Crazy, Says Top Investor About Palantir Stock
• Positive Sentiment: Another piece says Palantir keeps defying skeptics with a string of earnings beats and a raised outlook, reinforcing the idea that fundamentals are still improving. Predicition: Palantir Defies Doubters. Here’s Our New Price Target
• Neutral Sentiment: Palantir is also being widely searched and discussed, which shows elevated investor interest but does not by itself change the outlook.
• Neutral Sentiment: Several articles revisit the stock’s big run from its IPO and its recent pullback, keeping focus on valuation and volatility rather than any new company-specific catalyst.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PLTR shares. BTIG Research lowered shares of Palantir Technologies to a "neutral" rating in a research report on Tuesday, June 16th. UBS Group raised shares of Palantir Technologies from a "buy" rating to a "buy" rating in a research note on Tuesday, June 16th. DA Davidson reissued a "buy" rating and set a $175.00 target price on shares of Palantir Technologies in a research report on Friday. President Capital raised Palantir Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $25.50 to $133.00 in a research report on Monday, June 29th. Finally, Royal Bank Of Canada reissued an "underperform" rating and set a $90.00 price objective on shares of Palantir Technologies in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Palantir Technologies has an average rating of "Moderate Buy" and an average target price of $190.85.

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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