Palantir Technologies Inc. $PLTR Position Increased by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial increased its Palantir position by 49.1% in the second quarter, ending with 49,287 shares valued at approximately $5.75 million. Institutional investors collectively own 45.65% of the company.
• Palantir reported strong quarterly results, with revenue rising 92.8% year over year to $1.94 billion and EPS of $0.41, beating estimates. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $192.19.
• Valuation and insider selling remain key risks: Palantir trades at a market capitalization of about $418 billion and a P/E ratio near 149, while insiders have sold roughly $156.2 million of shares over the past 90 days, primarily to cover tax obligations.

Cary Street Partners Financial LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 49.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,287 shares of the company's stock after purchasing an additional 16,224 shares during the period. Cary Street Partners Financial LLC's holdings in Palantir Technologies were worth $5,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton increased its position in Palantir Technologies by 59.8% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 935 shares of the company's stock worth $109,000 after purchasing an additional 350 shares during the last quarter. Pachira Investments Inc. raised its stake in shares of Palantir Technologies by 20.7% during the 2nd quarter. Pachira Investments Inc. now owns 9,284 shares of the company's stock worth $1,083,000 after purchasing an additional 1,594 shares in the last quarter. Formidable Asset Management LLC lifted its holdings in shares of Palantir Technologies by 23.2% during the 2nd quarter. Formidable Asset Management LLC now owns 13,368 shares of the company's stock valued at $1,560,000 after buying an additional 2,517 shares during the last quarter. LifeSteps Financial Inc. lifted its holdings in shares of Palantir Technologies by 6.9% during the 2nd quarter. LifeSteps Financial Inc. now owns 1,584 shares of the company's stock valued at $185,000 after buying an additional 102 shares during the last quarter. Finally, InTrack Investment Management Inc grew its stake in shares of Palantir Technologies by 0.9% in the 2nd quarter. InTrack Investment Management Inc now owns 27,216 shares of the company's stock valued at $3,175,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PLTR shares. Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Benchmark reissued a "hold" rating on shares of Palantir Technologies in a research report on Tuesday, August 4th. Phillip Securities increased their price target on shares of Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $80.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada reiterated an "underperform" rating and issued a $90.00 price objective on shares of Palantir Technologies in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $192.19.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $174.04 on Monday. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $207.52. The company has a market cap of $418.23 billion, a PE ratio of 148.75, a price-to-earnings-growth ratio of 2.48 and a beta of 1.59. The business's 50 day moving average is $134.60 and its two-hundred day moving average is $139.96.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm earned $0.16 EPS. Palantir Technologies's quarterly revenue was up 92.8% compared to the same quarter last year. As a group, equities analysts expect that Palantir Technologies Inc. will post 1.26 EPS for the current fiscal year.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 319,934 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the completion of the transaction, the insider owned 592 shares of the company's stock, valued at approximately $80,535.68. The trade was a 99.82% decrease in their position. The transaction was disclosed in a document filed 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 David A. Glazer sold 17,128 shares of the 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 sale, the insider owned 375,242 shares of the company's stock, valued at approximately $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. Over the last 90 days, insiders have sold 1,150,302 shares of company stock worth $156,197,565. Insiders own 9.53% of the company's stock.

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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