Forum Financial Management LP Lowers Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Forum Financial Management LP reduced its Palantir stake by 9.5% in the first quarter, selling 14,619 shares and leaving it with 139,136 shares valued at about $20.35 million.
• Palantir continues to attract major institutional interest, with firms like Vanguard, State Street, Geode Capital, Norges Bank, and Invesco holding large positions; overall, hedge funds and other institutions own 45.65% of the stock.
• The company reported strong quarterly results, with EPS of $0.33 and revenue of $1.63 billion, both above estimates, while revenue jumped 84.7% year over year.

Forum Financial Management LP trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,136 shares of the company's stock after selling 14,619 shares during the period. Palantir Technologies makes up about 0.3% of Forum Financial Management LP's holdings, making the stock its 21st biggest holding. Forum Financial Management LP's holdings in Palantir Technologies were worth $20,353,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock worth $38,295,188,000 after acquiring an additional 1,557,828 shares during the last quarter. State Street Corp lifted its stake in shares of Palantir Technologies by 1.1% in the 4th 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 grew 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 purchasing an additional 805,047 shares during the period. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $5,149,641,000. Finally, Invesco Ltd. increased 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 worth $3,984,281,000 after purchasing an additional 616,297 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 2.4%

PLTR opened at $115.67 on Tuesday. The firm's 50 day moving average is $135.42 and its 200-day moving average is $149.76. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $207.52. The firm has a market capitalization of $277.30 billion, a P/E ratio of 129.97, a P/E/G ratio of 1.82 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its 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 the consensus estimate of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. Equities analysts expect that Palantir Technologies Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 17,128 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 $2,330,093.12. Following the completion of the transaction, the insider directly owned 375,242 shares of the company's stock, valued at $51,047,921.68. This represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 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 $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. This represents a 5.82% decrease in their ownership of the stock. 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 have sold a total of 927,270 shares of company stock worth $126,197,785 over the last three months. Insiders own 9.53% of the company's stock.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Palantir announced a strategic partnership with Nvidia to run AI and Nemotron models in secure government and critical-infrastructure environments, boosting its sovereign AI growth narrative. Palantir Launches Engine for Deploying NVIDIA Nemotron Open Models in Sovereign Environments
• Positive Sentiment: Reports that Japan could use Palantir’s Maven Smart System added another potential international government-use case for its AI software. Japan considers using Palantir's Maven Smart System
• Positive Sentiment: Several articles highlighted that Palantir’s recent selloff may have made the stock more attractive, while buying from Ark Invest and upbeat analyst commentary provided extra support. Cathie Wood Is Backing the Truck Up on Palantir Stock. Is She Finally Right?

Analyst Ratings Changes

Several research analysts recently commented on PLTR shares. HSBC lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating and cut their price target for the company from $205.00 to $151.00 in a report on Friday, May 1st. Weiss Ratings lowered shares of Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Cantor Fitzgerald reissued a "neutral" rating and issued a $138.00 target price on shares of Palantir Technologies in a research note on Friday, May 22nd. UBS Group upgraded shares of Palantir Technologies from a "buy" rating to a "buy" rating in a report on Tuesday, June 16th. Finally, Oppenheimer began coverage on Palantir Technologies in a research report on Thursday, April 30th. They issued an "outperform" rating and a $200.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $190.46.

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.

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