Knollwood Investment Advisory LLC Has $20.80 Million Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Knollwood Investment Advisory cut its Palantir stake by 8.1% in the fourth quarter, but still held 117,034 shares worth about $20.8 million, making PLTR its 8th-largest position.
• Analysts remain mixed but generally positive on Palantir: the stock carries a “Moderate Buy” consensus with an average price target of $192.76, though some firms still have underperform or neutral ratings.
• Palantir shares were down 2.4% to $127.99, even after the company reported stronger-than-expected Q1 results, including 84.7% revenue growth year over year and EPS above estimates.

Knollwood Investment Advisory LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,034 shares of the company's stock after selling 10,283 shares during the quarter. Palantir Technologies comprises approximately 2.0% of Knollwood Investment Advisory LLC's holdings, making the stock its 8th largest position. Knollwood Investment Advisory LLC's holdings in Palantir Technologies were worth $20,803,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PLTR. Bare Financial Services Inc boosted its stake in Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company's stock valued at $28,000 after purchasing an additional 55 shares during the period. Basepoint Wealth LLC bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC boosted its stake in Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after purchasing an additional 125 shares during the period. Cornerstone Financial Management LLC bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $31,000. Finally, United Financial Planning Group LLC bought a new stake in Palantir Technologies during the 3rd quarter valued at approximately $32,000. Institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on PLTR. Phillip Securities upped their price target on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Royal Bank Of Canada reaffirmed an "underperform" rating and issued a $90.00 price target on shares of Palantir Technologies in a report on Tuesday, May 5th. DZ Bank began coverage on Palantir Technologies in a report on Thursday, April 23rd. They issued a "buy" rating and a $175.00 price target for the company. DA Davidson cut their price target on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $230.00 price target on shares of Palantir Technologies in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $192.76.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is accessible 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 the stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 directly owned 592 shares of the company's stock, valued at approximately $80,535.68. The trade was a 99.82% 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 sold a total of 925,789 shares of company stock worth $126,007,032 in the last 90 days. 9.53% of the stock is owned by corporate insiders.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR's Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Palantir Technologies Trading Down 2.4%

Shares of PLTR opened at $127.99 on Friday. Palantir Technologies Inc. has a 1 year low of $122.68 and a 1 year high of $207.52. The stock has a 50 day simple moving average of $139.54 and a 200-day simple moving average of $153.76. The stock has a market cap of $306.83 billion, a PE ratio of 143.81, a PEG ratio of 2.03 and a beta of 1.53.

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

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.

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