Legacy Capital Group California Inc. Sells 8,131 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Legacy Capital Group California Inc. cut its Palantir stake by 55.6% in the first quarter, selling 8,131 shares and ending with 6,486 shares valued at about $949,000.
• Palantir reported strong quarterly results, with EPS of $0.33 topping estimates and revenue of $1.63 billion, up 84.7% year over year.
• Insider selling continued, including large sales by CEO Alex Karp and insider Shyam Sankar, even as analysts still rate the stock a moderate buy with a consensus target near $190.85.

Legacy Capital Group California Inc. lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 55.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,486 shares of the company's stock after selling 8,131 shares during the quarter. Legacy Capital Group California Inc.'s holdings in Palantir Technologies were worth $949,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PLTR. Basepoint Wealth LLC bought a new stake in Palantir Technologies in the fourth quarter worth $29,000. Morton Brown Family Wealth LLC raised its holdings in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after buying an additional 125 shares in the last quarter. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth about $31,000. Clayton Financial Group LLC lifted its position in shares of Palantir Technologies by 500.0% in the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after buying an additional 150 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Palantir Technologies during the 3rd quarter worth about $36,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 2.6%

Shares of PLTR opened at $130.05 on Tuesday. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52. The stock has a 50 day simple moving average of $132.40 and a 200-day simple moving average of $145.61. The stock has a market cap of $311.77 billion, a PE ratio of 146.13, a PEG ratio of 2.03 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 earnings per share. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

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 value of $54,109,093.76. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This trade represents a 5.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 35,000 shares of the firm's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $130.00, for a total value of $4,550,000.00. Following the completion of the transaction, the insider owned 642,786 shares in the company, valued at approximately $83,562,180. This represents a 5.16% decrease in their position. 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 sold 1,112,270 shares of company stock valued at $150,247,785 over the last three months. Insiders own 9.53% of the company's stock.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir said it will report second-quarter 2026 results on August 3 after the market close and host a webcast at 5:00 PM ET, keeping attention on the company’s next earnings catalyst. Palantir Announces Date of Second Quarter 2026 Earnings Release and Webcast
• Positive Sentiment: Several articles highlighted Palantir as a leading AI name, with pieces arguing the stock still has long-term upside and could benefit from continued growth in AI software adoption. Prediction: This Will Be Palantir Technologies' Stock Price in 2030
• Positive Sentiment: Commentary from Palantir co-founder Joe Lonsdale on the AI investment boom reinforced the broader bullish narrative around AI infrastructure, defense tech, and software platforms. Palantir Co-Founder Joe Lonsdale on the AI Investment Boom
• Neutral Sentiment: Multiple articles compared Palantir with other AI stocks such as Snowflake and Super Micro, but these were mostly comparative opinion pieces rather than new company-specific developments. Palantir vs. Snowflake: Which AI Strategy Has the Better Long-Term Potential?
• Neutral Sentiment: Market commentary and interview clips from analysts and media personalities continued to discuss Palantir’s valuation, CEO comments, and AI strategy, keeping the stock in the spotlight but not changing fundamentals directly. ‘One to Admire,’ Says Top Investor About Palantir Stock
• Negative Sentiment: Some coverage questioned Palantir’s rich valuation and suggested investors could find better value elsewhere, which may cap gains if sentiment shifts away from high-multiple AI stocks. Forget Palantir as It Bounces Back and Get in Salesforce Before Wall Street Wakes Up to Real Value
• Negative Sentiment: Several reports also highlighted concerns about AI costs, control, and a “satanic” company video criticized by Jim Cramer, adding some headline risk even as the broader AI story remains supportive. Cramer’s Ultimatum to Palantir: Disavow the “Satanic” Video Today

Analyst Ratings Changes

A number of brokerages have issued reports on PLTR. Royal Bank Of Canada reaffirmed an "underperform" rating and set a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. DA Davidson upgraded shares of Palantir Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $165.00 to $175.00 in a research note on Thursday, July 2nd. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of Palantir Technologies in a research note on Friday, June 5th. Mizuho decreased their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. Finally, Wedbush started coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $190.85.

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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