Jennison Associates LLC Has $1.02 Billion Position in Palantir Technologies Inc. $PLTR

Jennison Associates LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,711,763 shares of the company's stock after selling 2,049,179 shares during the period. Jennison Associates LLC owned about 0.36% of Palantir Technologies worth $1,016,401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $450,000. Bison Wealth LLC grew its stake in Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after purchasing an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC grew its stake in Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company's stock valued at $1,447,000 after purchasing an additional 4,722 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in Palantir Technologies by 36.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company's stock valued at $858,000 after purchasing an additional 1,694 shares in the last quarter. Finally, Vivaldi Capital Management LP acquired a new position in Palantir Technologies in the 2nd quarter worth about $315,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 319,934 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 transaction of $43,523,821.36. Following the sale, the insider owned 592 shares in the company, valued at approximately $80,535.68. This represents a 99.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 1,481 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider owned 60,226 shares of the company's stock, valued at approximately $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,150,302 shares of company stock worth $156,197,565 over the last ninety days. Company insiders own 9.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PLTR shares. Royal Bank Of Canada reaffirmed an "underperform" rating and set a $90.00 price target on shares of Palantir Technologies in a research note on Friday, July 31st. Argus raised Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a research note on Wednesday, May 6th. Phillip Securities increased their price objective on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Needham & Company LLC set a $215.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 11th. Finally, BTIG Research cut shares of Palantir Technologies to a "neutral" rating in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $192.19.

Palantir Technologies Price Performance

Shares of PLTR opened at $174.04 on Monday. The company has a market capitalization of $418.23 billion, a P/E ratio of 148.75, a PEG ratio of 2.48 and a beta of 1.59. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52. The business's 50 day simple moving average is $134.60 and its 200-day simple moving average is $139.96.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the company earned $0.16 EPS. Palantir Technologies's revenue for the quarter was up 92.8% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 1.26 EPS for the current fiscal year.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

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.

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.

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