Jupiter Asset Management Ltd. Sells 58,598 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Jupiter Asset Management reduced its Palantir stake by 69.9% in the fourth quarter, selling 58,598 shares and leaving it with 25,279 shares worth about $4.49 million.
• Other institutional investors were mixed on the stock, with some increasing positions while overall institutional ownership still stood at 45.65% of Palantir shares.
• Palantir’s recent earnings beat and strong revenue growth helped support the stock, but analysts remain split overall, with a Moderate Buy consensus and a price target of $192.76.

Jupiter Asset Management Ltd. cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 69.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,279 shares of the company's stock after selling 58,598 shares during the period. Jupiter Asset Management Ltd.'s holdings in Palantir Technologies were worth $4,493,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC lifted its holdings in shares of Palantir Technologies by 1.8% in the 4th quarter. Intech Investment Management LLC now owns 558,504 shares of the company's stock worth $99,274,000 after purchasing an additional 9,677 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in Palantir Technologies by 15.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 77,406 shares of the company's stock valued at $13,759,000 after purchasing an additional 10,620 shares in the last quarter. Baker Avenue Asset Management LP increased its stake in Palantir Technologies by 20.0% during the 4th quarter. Baker Avenue Asset Management LP now owns 15,494 shares of the company's stock valued at $2,754,000 after purchasing an additional 2,584 shares in the last quarter. Huntington National Bank raised its holdings in Palantir Technologies by 12.1% during the fourth quarter. Huntington National Bank now owns 447,322 shares of the company's stock worth $79,512,000 after buying an additional 48,127 shares during the last quarter. Finally, Connecticut Capital Management Group LLC bought a new position in shares of Palantir Technologies in the fourth quarter valued at $338,000. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an "underperform" rating and set a $90.00 price objective on shares of Palantir Technologies in a report on Tuesday, May 5th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price target on shares of Palantir Technologies in a research report on Thursday, May 21st. Weiss Ratings downgraded Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, April 27th. Cantor Fitzgerald reissued a "neutral" rating and set a $138.00 price objective on shares of Palantir Technologies in a report on Friday, May 22nd. Finally, Daiwa Securities Group upgraded Palantir Technologies from a "neutral" rating to a "buy" rating and set a $180.00 target price on the stock in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.76.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 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 $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $875,044,378.32. This represents a 5.82% 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 Ryan D. Taylor sold 19,662 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the completion of the sale, the insider directly owned 199,759 shares of the company's stock, valued at $27,175,214.36. This represents a 8.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 922,524 shares of company stock valued at $125,501,302 in the last quarter. 9.53% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $156.54 on Friday. The company has a market capitalization of $375.27 billion, a PE ratio of 175.89, a price-to-earnings-growth ratio of 2.48 and a beta of 1.52. Palantir Technologies Inc. has a 52-week low of $118.93 and a 52-week high of $207.52. The company has a 50-day simple moving average of $141.70 and a 200 day simple moving average of $156.13.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm earned $0.13 EPS. The company's revenue was up 84.7% compared to the same quarter last year. As a group, analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Investors are bidding up PLTR after Dell’s blockbuster earnings helped validate Palantir’s AI Factory partnership, reinforcing confidence in enterprise AI spending and lifting software names broadly. PLTR Stock Alert: Why Palantir Is Getting a Boost from Dell Earnings
• Positive Sentiment: Strong demand for AI software is also supporting PLTR, with articles pointing to renewed optimism across the sector after Snowflake’s results and a broader rebound in software stocks. Palantir Stock Is Having Its Best Day in a Year. Software Looks Like a Buy Again.
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside, adding to momentum in the shares.
• Positive Sentiment: Several pieces highlighted improving technicals, including a possible structural bottom and trend reversal, which can attract momentum and algorithmic buyers. Palantir (PLTR) Price Forecast: Structural Bottom Signals Trend Reversal
• Neutral Sentiment: Analyst-related commentary noted upside potential from current price targets and recent earnings estimate revisions, but this is more supportive than a direct stock-moving catalyst. Does Palantir Technologies (PLTR) Have the Potential to Rally 35.91% as Wall Street Analysts Expect?

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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