Palantir Technologies Inc. $PLTR Position Lowered by Allen Operations LLC

Key Points

• Allen Operations LLC cut its Palantir stake by 6.3% in the fourth quarter, selling 75,000 shares and leaving it with 1.125 million shares worth about $200 million. Palantir remains the fund’s largest holding, accounting for roughly 25% of its portfolio.
• Several other institutional investors also adjusted their positions, while hedge funds and other institutions still own 45.65% of Palantir. Insider activity was notable too: CEO Alexander Karp and insider Ryan D. Taylor sold shares in May, with insiders having sold 922,524 shares over the last 90 days.
• Palantir reported strong quarterly results, posting EPS of $0.33 versus the $0.28 consensus and revenue of $1.63 billion, up 84.7% year over year. Analysts currently rate the stock a Moderate Buy with a consensus price target of $192.76, even as some warn valuation is rich after its run-up.

Allen Operations LLC reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,125,000 shares of the company's stock after selling 75,000 shares during the quarter. Palantir Technologies accounts for approximately 25.0% of Allen Operations LLC's holdings, making the stock its largest holding. Allen Operations LLC's holdings in Palantir Technologies were worth $199,969,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gallacher Capital Management LLC increased its holdings in Palantir Technologies by 2.2% during the 3rd quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company's stock worth $447,000 after purchasing an additional 53 shares during the last quarter. Bare Financial Services Inc increased its holdings in Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after purchasing an additional 55 shares during the last quarter. AlphaQuest LLC increased its holdings in Palantir Technologies by 15.8% during the 3rd quarter. AlphaQuest LLC now owns 425 shares of the company's stock worth $78,000 after purchasing an additional 58 shares during the last quarter. Beaumont Financial Advisors LLC increased its holdings in Palantir Technologies by 2.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company's stock worth $527,000 after purchasing an additional 59 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its holdings in Palantir Technologies by 0.6% during the 4th quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company's stock worth $1,890,000 after purchasing an additional 60 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 19,662 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the sale, the insider directly owned 199,759 shares of the company's stock, valued at $27,175,214.36. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the business's 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 sale, the insider directly owned 6,432,258 shares in the company, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 922,524 shares of company stock worth $125,501,302. 9.53% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $160.65 on Tuesday. Palantir Technologies Inc. has a 12-month low of $118.93 and a 12-month high of $207.52. The firm has a market capitalization of $385.13 billion, a P/E ratio of 180.51, a P/E/G ratio of 2.48 and a beta of 1.53. The business has a 50 day simple moving average of $141.80 and a 200 day simple moving average of $155.65.

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 (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 business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The business's revenue for the quarter was up 84.7% compared to the same quarter last year. Research analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the subject of several research reports. UBS Group lifted their target price on Palantir Technologies from $180.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, March 18th. William Blair upgraded Palantir Technologies from a "market perform" rating to an "outperform" rating in a research report on Monday, February 2nd. Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Robert W. Baird upgraded Palantir Technologies from a "neutral" rating to an "outperform" rating and set a $200.00 target price for the company in a research report on Tuesday, February 3rd. Finally, DA Davidson decreased their target price on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating for the company in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.76.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir shares surged as a software sector rally lifted the stock to its best intraday performance in 13 months, with the move helping it finish the week with a double-digit gain. Palantir Rally Renews This ETF's Shine
• Positive Sentiment: Traders are watching for a breakout after a period of consolidation, suggesting momentum investors see room for further upside if the stock clears resistance. Palantir Seen Ready for Next Move Higher
• Positive Sentiment: Coverage highlighting Palantir as one of the best AI stocks to buy, plus bullish commentary from Zacks and other outlets, is reinforcing the view that the company remains a top AI beneficiary. Palantir Technologies (PLTR): One of the Best Stocks to Buy Right Now According to AI
• Positive Sentiment: Multiple reports point to tailwinds from Dell-related AI infrastructure momentum and stronger sentiment across tech stocks, which are helping PLTR trade higher. Why Is Palantir Technologies Stock Trending Higher On Monday?
• Neutral Sentiment: Some commentary argues that a lot of Palantir’s expected growth is already priced in, even though the business is still growing quickly. Is Palantir Still a Millionaire-Maker Stock?
• Negative Sentiment: Bearish opinion pieces warned that Palantir could have room to decline by the end of 2027, reflecting valuation concerns after its big run. Prediction: This Will Be Palantir's Stock Price by the End of 2027

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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