Fortis Group Advisors LLC Decreases Stake in Palantir Technologies Inc. $PLTR

Key Points

• Fortis Group Advisors LLC cut its Palantir stake by 16.9% in the fourth quarter, selling 4,727 shares and ending with 23,263 shares valued at about $4.1 million.
• Institutional ownership remains substantial, with major firms like Vanguard, State Street, and Invesco increasing their positions; hedge funds and other institutions own 45.65% of Palantir’s stock.
• Wall Street sentiment is mixed but generally constructive, with recent target price hikes from Citigroup and Rosenblatt, while the overall consensus rating remains “Moderate Buy” with a $195.16 price target.

Fortis Group Advisors LLC lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,263 shares of the company's stock after selling 4,727 shares during the period. Fortis Group Advisors LLC's holdings in Palantir Technologies were worth $4,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Palantir Technologies by 0.7% in the fourth 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 holdings in shares of Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company's stock worth $18,471,648,000 after buying an additional 6,777,771 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Palantir Technologies by 5.9% in the third quarter. Invesco Ltd. now owns 21,798,785 shares of the company's stock worth $3,976,534,000 after buying an additional 1,213,529 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Palantir Technologies by 3.8% in the third quarter. Northern Trust Corp now owns 21,088,462 shares of the company's stock worth $3,846,957,000 after buying an additional 769,238 shares during the last quarter. Finally, Amundi raised its holdings in shares of Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company's stock worth $2,814,879,000 after buying an additional 4,373,201 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLTR. Citigroup raised their target price 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 assumed 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. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $200.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 3rd. Daiwa Securities Group raised shares of Palantir Technologies from a "neutral" rating to a "buy" rating and set a $180.00 price objective for the company in a report on Tuesday, February 10th. Finally, Rosenblatt Securities lifted their price objective on shares of Palantir Technologies from $200.00 to $225.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $195.16.

Key Palantir Technologies News

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

• Positive Sentiment: Rosenblatt reportedly views Palantir’s recent pullback as a buying opportunity, pointing to the company’s strong execution and continued AI-driven growth narrative. Rosenblatt Sees the Pullback in Palantir Stock (PLTR) as a Buying Opportunity, Here’s Why
• Positive Sentiment: Several recent pieces highlight Palantir’s record quarterly results, including 85% revenue growth and expanding margins, reinforcing the view that business momentum remains exceptionally strong. Palantir Technologies NASDAQ: PLTR
• Positive Sentiment: Market commentary says Palantir’s expanding customer base and rising U.S. commercial adoption continue to support its enterprise AI growth story. PLTR's Customer Growth Momentum Strengthens Enterprise AI Expansion
• Neutral Sentiment: New autocallable ETFs tied to Palantir launched this week, adding more trading products linked to the stock but not changing the underlying business outlook. GraniteShares Expands Autocallable ETF Lineup with Launch of PLTR and HOOD ETFs
• Negative Sentiment: Bearish articles continue to warn that Palantir is “priced for perfection” and may be vulnerable if growth slows or expectations cool further. Palantir Technologies: Priced For Perfection, And That's Concerning
• Negative Sentiment: Some analysts and commentators are also flagging valuation risk and competition from AI labs like OpenAI and Anthropic as longer-term threats to the PLTR story. Palantir Faces a Bigger Threat Than Valuation: AI Labs Like Anthropic and OpenAI Are Disrupting the PLTR Stock Story

Palantir Technologies Stock Performance

PLTR opened at $137.15 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $118.93 and a fifty-two week high of $207.52. The company has a fifty day moving average of $143.45 and a two-hundred day moving average of $158.35. The stock has a market capitalization of $328.79 billion, a price-to-earnings ratio of 154.10, a PEG ratio of 2.15 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates 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 company's quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 327,088 shares of the business's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $43,738,207.36. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at $79,162.24. The trade was a 99.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 17,438 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $133.72, for a total transaction of $2,331,809.36. Following the sale, the insider directly owned 392,370 shares of the company's stock, valued at $52,467,716.40. This represents a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,029,479 shares of company stock valued at $137,685,797. Corporate insiders own 9.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.