Palantir Technologies Inc. $PLTR is Dock Street Asset Management Inc.'s 2nd Largest Position

Key Points

• Dock Street Asset Management trimmed its Palantir stake by 4.3% in the first quarter but still held 744,782 shares valued at about $108.9 million, making PLTR its second-largest position and roughly 11.5% of its portfolio.
• Palantir continues to draw mixed signals from the market: news flow highlighted a positive AI-related partnership with Zeta Global and buying from ARK Invest, but also ongoing concerns about valuation, weak sentiment, and stock declines toward 52-week lows.
• Insiders sold a significant amount of stock last quarter, and analysts remain divided overall, with Palantir carrying a Moderate Buy consensus and an average price target of $192.76. The stock recently traded near $113.47, far below its 52-week high of $207.52.

Dock Street Asset Management Inc. trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 744,782 shares of the company's stock after selling 33,331 shares during the period. Palantir Technologies makes up approximately 11.5% of Dock Street Asset Management Inc.'s portfolio, making the stock its 2nd biggest holding. Dock Street Asset Management Inc.'s holdings in Palantir Technologies were worth $108,947,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bare Financial Services Inc grew its stake in Palantir Technologies by 54.5% in the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after buying an additional 55 shares in the last quarter. Basepoint Wealth LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $29,000. Morton Brown Family Wealth LLC raised its position in shares of 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 buying an additional 125 shares in the last quarter. Cornerstone Financial Management LLC bought a new stake in shares of Palantir Technologies during the 4th quarter worth $31,000. Finally, United Financial Planning Group LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth $32,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir’s partnership with Zeta Global strengthens the company’s AI growth narrative and adds another enterprise use case for Foundry, which analysts view as validation of Palantir’s platform. Article Title
• Positive Sentiment: Cathie Wood’s ARK Invest bought Palantir shares, a signal that some growth investors still see value in the pullback. Article Title
• Neutral Sentiment: Several articles argue that Palantir’s selloff may have gone too far and that the stock could be a buy for long-term investors, but these are opinion pieces rather than new fundamentals. Article Title
• Negative Sentiment: Sentiment remains weak because Palantir has been sliding toward or hitting new 52-week lows, with reports pointing to AI disruption fears, sector rotation out of software, and valuation concerns as reasons for the decline. Article Title
• Negative Sentiment: Coverage also highlighted competitive and international setbacks, including reports of European customers moving away from Palantir, which may add pressure to the stock. Article Title

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 165,514 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 $22,516,524.56. Following the transaction, the insider directly owned 642,786 shares of the company's stock, valued at $87,444,607.44. The trade was a 20.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 owned 375,242 shares of the company's stock, valued at $51,047,921.68. The trade was a 4.37% decrease in their position. 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 sold 927,270 shares of company stock worth $126,197,785 over the last quarter. Company insiders own 9.53% of the company's stock.

Analyst Ratings Changes

PLTR has been the topic of a number of research analyst reports. BTIG Research cut Palantir Technologies to a "neutral" rating in a research note on Tuesday, June 16th. Zacks Research raised Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. DZ Bank began coverage on Palantir Technologies in a report on Thursday, April 23rd. They issued a "buy" rating and a $175.00 price objective for the company. Citigroup upped their price objective on Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Mizuho decreased their price objective on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $192.76.

Palantir Technologies Stock Down 2.8%

Palantir Technologies stock opened at $113.47 on Thursday. The company has a market capitalization of $272.03 billion, a PE ratio of 127.50, a P/E/G ratio of 1.85 and a beta of 1.53. The firm has a fifty day simple moving average of $137.11 and a two-hundred day simple moving average of $151.23. Palantir Technologies Inc. has a twelve month low of $112.25 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period last year, the firm earned $0.13 earnings per share. The company's revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, equities analysts expect that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

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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