Kovitz Investment Group Partners LLC Trims Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Kovitz Investment Group Partners cut its Palantir position by 40% in the fourth quarter, selling 67,244 shares and leaving it with 100,770 shares worth about $17.9 million.
• Several other hedge funds also adjusted their Palantir stakes, while insiders have been selling shares as well; the largest recent insider sale was by Shyam Sankar, who sold 165,514 shares for about $22.5 million.
• Palantir stock was down 1.7% to $128.47, but the company recently beat earnings and revenue estimates, with revenue up 84.7% year over year and analysts maintaining an overall Moderate Buy rating.

Kovitz Investment Group Partners LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,770 shares of the company's stock after selling 67,244 shares during the period. Kovitz Investment Group Partners LLC's holdings in Palantir Technologies were worth $17,912,000 at the end of the most recent quarter.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 165,514 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the transaction, the insider owned 642,786 shares in the company, valued at $87,444,607.44. This trade represents a 20.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of Palantir Technologies 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 $2,330,093.12. Following the completion of the sale, the insider directly owned 375,242 shares in the company, valued at approximately $51,047,921.68. The trade was a 4.37% 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 sold 927,270 shares of company stock valued at $126,197,785 in the last 90 days. 9.53% of the stock is currently owned by insiders.

Palantir Technologies Stock Down 1.7%

Shares of PLTR stock opened at $128.47 on Friday. The stock has a market cap of $307.98 billion, a P/E ratio of 144.35, a PEG ratio of 2.07 and a beta of 1.53. Palantir Technologies Inc. has a 52 week low of $122.68 and a 52 week high of $207.52. The company's fifty day simple moving average is $138.18 and its two-hundred day simple moving average is $152.74.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS 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 revenue was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Palantir Technologies News Summary

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

• Positive Sentiment: Wolfe Research upgraded Palantir to Peer Perform from Underperform, citing its AI platform, ontology, and forward-deployed engineers as a strong foundation for enterprise AI growth. Is Palantir Technologies Inc. (PLTR) Becoming the Face of Applied Enterprise AI?
• Positive Sentiment: Recent commentary continues to highlight accelerating U.S. commercial momentum, including rising revenue, more customers, and larger contract wins tied to Palantir’s AIP platform. Palantir's AIP Momentum Continues to Transform U.S. Commercial Growth
• Positive Sentiment: Some analysts argue Palantir’s rapid growth and strong margins make it hard to ignore, despite valuation concerns, keeping bullish AI sentiment intact. Why This Analyst Says Palantir Stock Is ‘Too Big to Ignore’

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PLTR shares. Phillip Securities raised their price target on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Oppenheimer began coverage on Palantir Technologies in a research note on Thursday, April 30th. They issued an "outperform" rating and a $200.00 price objective for the company. HSBC cut Palantir Technologies from a "buy" rating to a "hold" rating and cut their target price for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. Mizuho lowered their price target on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $138.00 price target on shares of Palantir Technologies in a research note on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $192.76.

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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