Nicholas Wealth LLC. Sells 6,138 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Nicholas Wealth LLC cut its Palantir position by 41.1% in the fourth quarter, selling 6,138 shares and leaving it with 8,793 shares worth about $1.56 million.
• Despite the trim, institutional ownership remains significant, with several other investors recently adding to or starting positions in PLTR.
• Palantir’s latest quarterly results were strong, with EPS of $0.33 and revenue of $1.63 billion, both above estimates, while analysts currently rate the stock a Moderate Buy with a consensus target of $192.76.

Nicholas Wealth LLC. lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 41.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,793 shares of the company's stock after selling 6,138 shares during the period. Palantir Technologies comprises about 1.0% of Nicholas Wealth LLC.'s investment portfolio, making the stock its 17th biggest holding. Nicholas Wealth LLC.'s holdings in Palantir Technologies were worth $1,563,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PLTR. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth $450,000. Bison Wealth LLC grew its holdings in shares of Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after acquiring an additional 4,667 shares during the period. Capstone Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company's stock worth $1,447,000 after acquiring an additional 4,722 shares during the period. Schnieders Capital Management LLC. grew its holdings in Palantir Technologies by 36.8% during 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 during the period. Finally, Vivaldi Capital Management LP bought a new stake in Palantir Technologies during the second quarter valued at about $315,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PLTR shares. BNP Paribas Exane started coverage on Palantir Technologies in a report on Tuesday. They set an "underperform" rating for the company. DZ Bank started coverage on Palantir Technologies in a report on Thursday, April 23rd. They set a "buy" rating and a $175.00 price target for the company. Oppenheimer started coverage on Palantir Technologies in a report on Thursday, April 30th. They set an "outperform" rating and a $200.00 price target for the company. Phillip Securities boosted their price target on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Finally, Mizuho cut their price target on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.76.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $133.25 on Wednesday. The stock has a 50-day simple moving average of $138.96 and a two-hundred day simple moving average of $153.27. Palantir Technologies Inc. has a 52-week low of $122.68 and a 52-week high of $207.52. The firm has a market capitalization of $319.44 billion, a PE ratio of 149.72, a P/E/G ratio of 2.14 and a beta of 1.53.

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

Palantir Technologies News Roundup

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

• Positive Sentiment: Wolfe Research upgraded Palantir Technologies (PLTR) to Peer Perform/Hold, signaling that analysts see less downside risk and still view the company as a major AI enterprise player. This Analyst Just Upgraded Palantir Stock. Here's Why.
• Positive Sentiment: Coverage around Palantir’s recent AI partnerships and customer deployments at AIPCon 10 continues to support the bullish long-term AI-growth narrative. Will New AI Partnerships And Governance Votes At AIPCon 10 Change Palantir Technologies' (PLTR) Narrative
• Neutral Sentiment: Some commentary says Palantir remains a leading enterprise AI software provider, but investors are still debating whether the stock’s recent pullback has made the valuation more reasonable. Palantir Technologies (PLTR) Stock Could Be 25.9% Overvalued After AI Rally
• Neutral Sentiment: Insider selling by Jeffrey Buckley was disclosed, but it was a small sale executed under a pre-arranged 10b5-1 plan, so it is more of a sentiment signal than a major fundamental change. Jeffrey Buckley Sells 1,481 Shares of Palantir Technologies NASDAQ: PLTR Stock
• Negative Sentiment: France’s domestic spy agency is reportedly dropping Palantir in favor of a local rival, adding to concerns that European governments may prefer domestic providers for sensitive data projects. French domestic spy agency ditches Palantir for local rival, PM says
• Negative Sentiment: Palantir also lost a Swiss legal challenge tied to government contract scrutiny and data-sovereignty issues, reinforcing regulatory and political risk in Europe. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe
• Negative Sentiment: Analyst commentary also points to Palantir’s still-stretched valuation, which is limiting upside even after the company’s strong AI momentum and recent upgrades. There’s a Catch,’ Says Top Analyst About Palantir (PLTR) Stock

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 19,662 shares of the company's stock in a transaction dated 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 transaction, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 company's stock in a transaction dated 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. This trade represents a 99.82% decrease in their position. 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. Over the last 90 days, insiders have sold 927,270 shares of company stock valued at $126,197,785. 9.53% of the stock is owned by corporate insiders.

Palantir Technologies Company 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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