Palantir Technologies Inc. $PLTR Shares Purchased by SevenBridge Financial Group LLC

Key Points

• SevenBridge Financial Group boosted its Palantir stake by 71.4% in the first quarter, buying 14,076 additional shares and bringing its position to 33,782 shares worth about $5.16 million.
• Institutional ownership remains significant, with 45.65% of Palantir shares held by institutional investors and hedge funds, and several other funds also increased their positions during the period.
• Wall Street sentiment is mixed but mostly positive: Palantir has an average analyst rating of “Moderate Buy” with a $190.46 average price target, even as some firms issued cautious or underperform ratings.

SevenBridge Financial Group LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 71.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,782 shares of the company's stock after purchasing an additional 14,076 shares during the period. SevenBridge Financial Group LLC's holdings in Palantir Technologies were worth $5,156,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Beaumont Financial Advisors LLC lifted its stake 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 acquiring an additional 59 shares in the last quarter. Transcend Capital Advisors LLC increased its stake in Palantir Technologies by 0.6% during the fourth 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 period. Sandbox Financial Partners LLC lifted its position in shares of Palantir Technologies by 1.3% during the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company's stock worth $873,000 after purchasing an additional 61 shares in the last quarter. San Luis Wealth Advisors LLC lifted its position in shares of Palantir Technologies by 1.6% during the fourth quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company's stock worth $726,000 after purchasing an additional 63 shares in the last quarter. Finally, Monument Capital Management boosted its stake in shares of Palantir Technologies by 1.2% in the fourth quarter. Monument Capital Management now owns 5,341 shares of the company's stock valued at $949,000 after purchasing an additional 63 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLTR. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price objective on shares of Palantir Technologies in a research note on Friday, June 5th. BNP Paribas Exane began coverage on Palantir Technologies in a research note on Tuesday, June 16th. They set an "underperform" rating for the company. President Capital raised Palantir Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $25.50 to $133.00 in a research report on Monday. Wedbush initiated coverage on Palantir Technologies in a research note on Tuesday, June 16th. They issued an "outperform" rating for the company. Finally, Oppenheimer began coverage on Palantir Technologies in a research report on Thursday, April 30th. They set an "outperform" rating and a $200.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $190.46.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir announced a strategic partnership with Nvidia to run AI and Nemotron models in secure government and critical-infrastructure environments, boosting its sovereign AI growth narrative. Palantir Launches Engine for Deploying NVIDIA Nemotron Open Models in Sovereign Environments
• Positive Sentiment: Reports that Japan could use Palantir’s Maven Smart System added another potential international government-use case for its AI software. Japan considers using Palantir's Maven Smart System
• Positive Sentiment: Several articles highlighted that Palantir’s recent selloff may have made the stock more attractive, while buying from Ark Invest and upbeat analyst commentary provided extra support. Cathie Wood Is Backing the Truck Up on Palantir Stock. Is She Finally Right?

Palantir Technologies Price Performance

Palantir Technologies stock opened at $115.67 on Tuesday. The stock has a market cap of $277.30 billion, a PE ratio of 129.97, a P/E/G ratio of 1.82 and a beta of 1.53. The stock's fifty day moving average is $135.42 and its two-hundred day moving average is $149.76. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52.

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, topping the consensus estimate 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 analysts' expectations of $1.54 billion. During the same period in the prior year, the firm posted $0.13 EPS. The business's quarterly revenue was up 84.7% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 sale, the insider directly owned 592 shares of the company's stock, valued at $80,535.68. This represents a 99.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 firm's 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 $2,330,093.12. Following the transaction, the insider owned 375,242 shares in the company, valued at $51,047,921.68. This represents a 4.37% decrease in their position. 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. Insiders have sold a total of 927,270 shares of company stock valued at $126,197,785 over the last ninety days. Company insiders own 9.53% of the company's stock.

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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