Geneos Wealth Management Inc. Cuts Position in Palantir Technologies Inc. $PLTR

Key Points

• Geneos Wealth Management cut its Palantir stake by 24.5% in the first quarter, leaving it with 11,731 shares worth about $1.7 million.
• Other institutional investors were mixed on PLTR, with several increasing holdings; overall, about 45.65% of the stock is owned by hedge funds and other institutions.
• Analysts remain mostly constructive on Palantir, with a Moderate Buy consensus and an average price target of $190.85, while the company also posted a strong quarter with 84.7% year-over-year revenue growth and earnings above expectations.

Geneos Wealth Management Inc. lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 24.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,731 shares of the company's stock after selling 3,812 shares during the period. Geneos Wealth Management Inc.'s holdings in Palantir Technologies were worth $1,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. NFSG Corp raised its holdings in Palantir Technologies by 8.9% during the first quarter. NFSG Corp now owns 89,462 shares of the company's stock worth $13,087,000 after purchasing an additional 7,276 shares during the last quarter. Signet Financial Management LLC increased its position in shares of Palantir Technologies by 9.1% in the first quarter. Signet Financial Management LLC now owns 1,742 shares of the company's stock valued at $255,000 after buying an additional 146 shares in the last quarter. Opinicus Capital Inc. increased its position in shares of Palantir Technologies by 58.2% in the first quarter. Opinicus Capital Inc. now owns 1,848 shares of the company's stock valued at $270,000 after buying an additional 680 shares in the last quarter. Sterling Investment Advisors Ltd. raised its stake in shares of Palantir Technologies by 35.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 31,152 shares of the company's stock worth $4,557,000 after buying an additional 8,099 shares during the last quarter. Finally, Cornerstone Advisory LLC raised its stake in shares of Palantir Technologies by 7.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,244 shares of the company's stock worth $767,000 after buying an additional 384 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent research reports. DZ Bank started coverage on shares of Palantir Technologies in a report on Thursday, April 23rd. They set a "buy" rating and a $175.00 target price for the company. Oppenheimer initiated coverage on Palantir Technologies in a research report on Thursday, April 30th. They set an "outperform" rating and a $200.00 price objective for the company. Citigroup upped their target price on Palantir Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. BNP Paribas Exane started coverage on Palantir Technologies in a research report on Tuesday, June 16th. They set an "underperform" rating for the company. Finally, UBS Group raised Palantir Technologies from a "buy" rating to a "buy" rating in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $190.85.

Insider Activity at Palantir Technologies

In related 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 transaction, the insider directly owned 375,242 shares of the company's stock, valued at approximately $51,047,921.68. This trade represents a 4.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Palantir Technologies 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 completion of the transaction, the insider owned 592 shares in the company, valued at $80,535.68. The trade was 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 1,112,270 shares of company stock valued at $150,247,785 over the last 90 days. 9.53% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $132.38 on Friday. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52. The company's 50 day simple moving average is $132.20 and its 200 day simple moving average is $144.30. The company has a market capitalization of $317.36 billion, a price-to-earnings ratio of 148.74, a PEG ratio of 2.12 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 28.34% and a net margin of 43.67%.The business's revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. Equities analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

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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