Palantir Technologies Inc. $PLTR Shares Acquired by SkyOak Wealth LLC

Key Points

• SkyOak Wealth LLC increased its Palantir stake by 169.5% in the fourth quarter, ending with 6,399 shares worth about $1.14 million. Several other institutional investors also added to positions, and institutions now hold 45.65% of the stock.
• Insider selling has been significant, including a large sale by Stephen Andrew Cohen of 327,088 shares for about $43.7 million. Over the last 90 days, insiders sold 1,029,479 shares valued at roughly $137.7 million.
• Palantir recently beat earnings expectations, reporting $0.33 EPS on revenue of $1.63 billion, with revenue up 84.7% year over year. Analysts remain mostly constructive overall, with a consensus rating of Moderate Buy and an average target price of $195.16.

SkyOak Wealth LLC grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 169.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,399 shares of the company's stock after purchasing an additional 4,025 shares during the quarter. SkyOak Wealth LLC's holdings in Palantir Technologies were worth $1,137,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Milestone Asset Management LLC boosted its position in Palantir Technologies by 229.5% during the fourth quarter. Milestone Asset Management LLC now owns 60,551 shares of the company's stock worth $10,763,000 after acquiring an additional 42,173 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its position in Palantir Technologies by 26.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 58,548 shares of the company's stock worth $10,680,000 after acquiring an additional 12,229 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Palantir Technologies by 135.3% during the third quarter. Public Sector Pension Investment Board now owns 540,835 shares of the company's stock worth $98,659,000 after acquiring an additional 310,942 shares during the last quarter. VCI Wealth Management LLC boosted its position in Palantir Technologies by 42.3% during the fourth quarter. VCI Wealth Management LLC now owns 12,187 shares of the company's stock worth $2,166,000 after acquiring an additional 3,621 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in Palantir Technologies during the fourth quarter worth about $222,143,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Jeffrey Buckley sold 1,232 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $129.08, for a total value of $159,026.56. Following the sale, the insider directly owned 43,108 shares of the company's stock, valued at approximately $5,564,380.64. The trade was a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 327,088 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $43,738,207.36. Following the completion of the sale, the insider directly owned 592 shares in the company, valued at $79,162.24. This trade represents a 99.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,029,479 shares of company stock worth $137,685,797. Insiders own 9.53% of the company's stock.

More Palantir Technologies News

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

• Positive Sentiment: Analyst optimism remains a tailwind, with Freedom Broker reportedly raising its price target on Palantir to $230 and reiterating a Buy rating after the company’s strong Q1 results. Freedom Broker Lifts Palantir (PLTR) Price Target After Strong Results
• Positive Sentiment: Multiple pieces argue the post-earnings selloff may be overdone, citing Palantir’s rapid revenue growth, expanding commercial adoption, and the view that the AI boom is still early in its cycle. Ignore the Post-Earnings Selloff in Palantir Stock: The AI Revolution Is Just in the ‘Third Inning’
• Positive Sentiment: Palantir’s defense and autonomy ecosystem is also in focus after partner Ondas reported explosive revenue growth and raised guidance, which helps validate Palantir’s presence in fast-growing defense-tech use cases. Palantir-Backed Ondas Stock Soars. Autonomous Drone Company Sees Revenue Grow 1,065%.
• Positive Sentiment: Palantir also got a boost from news that its AI capabilities may be further leveraged in Ukraine’s war effort, reinforcing the company’s strategic relevance in defense and government contracts. Ukraine Will Leverage Palantir’s AI Capabilities In Its War With Russia. This Helps Prove PLTR Stock Will Never Be Irrelevant.
• Neutral Sentiment: Some headlines are highlighting heavier retail selling, insider selling, and valuation concerns, suggesting part of the market still sees PLTR as expensive after its big run. Retail traders are trimming holdings of longtime AI favorite Palantir in a pivot from software stocks
• Neutral Sentiment: Other coverage notes that Google’s expanded DoD AI contract could increase competition for government AI spending, which may pressure sentiment around Palantir’s long-term growth runway. Why Palantir Suddenly Looks Vulnerable After Google’s Move (PLTR)

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PLTR shares. UBS Group boosted their price target on shares of 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 shares of Palantir Technologies from a "market perform" rating to an "outperform" rating in a report on Monday, February 2nd. DA Davidson decreased their target price on shares of Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday, May 5th. Robert W. Baird upgraded shares of Palantir Technologies from a "neutral" rating to an "outperform" rating and set a $200.00 target price on the stock in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada reiterated an "underperform" rating and issued a $90.00 target price on shares of Palantir Technologies in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $195.16.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $133.73 on Friday. The company's 50 day simple moving average is $145.01 and its 200-day simple moving average is $159.97. The company has a market capitalization of $320.59 billion, a price-to-earnings ratio of 150.26, a price-to-earnings-growth ratio of 2.06 and a beta of 1.52. Palantir Technologies Inc. has a 1 year low of $118.93 and a 1 year high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business's revenue was up 84.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. Equities analysts expect that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

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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