Palantir Technologies Inc. $PLTR Shares Sold by Arizona State Retirement System

Key Points

• Arizona State Retirement System reduced its Palantir stake by 3.4%, selling 21,560 shares and retaining 604,307 shares valued at approximately $70.5 million. Institutional investors and hedge funds collectively own 45.65% of the company.
• Palantir reported strong quarterly results, with revenue of $1.94 billion rising 92.8% year over year and earnings of $0.41 per share exceeding estimates of $0.34. Shares recently traded at $170.30, while the stock’s valuation remained elevated at roughly 146 times earnings.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and a $192.19 price target. However, insiders sold more than $117 million of stock over the past 90 days, and some analysts and investors have raised concerns about valuation, stock-based compensation and limited near-term catalysts.

Arizona State Retirement System trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 604,307 shares of the company's stock after selling 21,560 shares during the period. Arizona State Retirement System's holdings in Palantir Technologies were worth $70,504,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PLTR. Basepoint Wealth LLC acquired a new stake in Palantir Technologies during the fourth quarter worth approximately $29,000. Ballast Advisors LLC acquired a new position in Palantir Technologies in the 1st quarter valued at $29,000. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $31,000. Whipplewood Advisors LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth $32,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $35,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Palantir Technologies stock traded down $4.03 during midday trading on Tuesday, reaching $170.30. The stock had a trading volume of 24,515,640 shares, compared to its average volume of 45,417,898. The stock's 50-day simple moving average is $151.39 and its 200 day simple moving average is $143.92. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52. The stock has a market capitalization of $409.24 billion, a PE ratio of 145.56, a price-to-earnings-growth ratio of 2.47 and a beta of 1.62.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The firm's revenue was up 92.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 1.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Friedman Stat sold 3,032 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $165.00, for a total transaction of $500,280.00. Following the completion of the sale, the director directly owned 54,107 shares of the company's stock, valued at approximately $8,927,655. This represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 492,348 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $174.79, for a total value of $86,057,506.92. Following the completion of the sale, the insider owned 6,432,258 shares of the company's stock, valued at approximately $1,124,294,375.82. This represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 721,508 shares of company stock worth $117,070,093. 9.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Palantir Technologies in a research note on Friday, July 24th. Needham & Company LLC set a $215.00 price target on Palantir Technologies in a report on Tuesday, August 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $204.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 4th. Wolfe Research began coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They set a "buy" rating on the stock. Finally, BTIG Research cut shares of Palantir Technologies to a "neutral" rating in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.19.

More Palantir Technologies News

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

• Positive Sentiment: Palantir named Nebius Group NASDAQ: NBIS its preferred sovereign-AI infrastructure partner. Nebius will provide dedicated GPU computing and inference capacity within Palantir’s security perimeter, while Palantir supplies its Foundry and Apollo software. The arrangement could help Palantir win regulated enterprise, government and defense business without investing heavily in data-center hardware. Palantir Names Nebius Its Preferred Sovereign AI Partner
• Positive Sentiment: The partnership supports Palantir’s pitch that customers can retain control of their data, models and computing resources rather than rely on variable pay-per-token fees or shared public clouds. It may also improve access to markets with strict data-residency requirements. Palantir Wants to Kill the Pay-Per-Token AI Economy
• Neutral Sentiment: Palantir’s strong operating momentum remains a key part of the investment case: its latest reported quarter showed revenue growth of nearly 93% year over year and earnings above consensus. However, investors still need evidence that the Nebius relationship converts into material contracts and recurring revenue. Palantir Surged 51% in August
• Negative Sentiment: Sentiment was pressured by concerns that Palantir’s valuation—approximately 146 times earnings based on the supplied data—already discounts substantial future growth. A Seeking Alpha downgrade argued that the company may be running short of near-term catalysts. Palantir Is Out of Catalysts
• Negative Sentiment: Ark Invest reduced its Palantir position, while renewed criticism from Michael Burry focused on stock-based compensation, customer concentration and whether Palantir’s economics resemble consulting more than high-margin software. These actions reinforce concerns about profit quality and downside risk after the recent rally. Cathie Wood Dumps $25 Million of Palantir Shares

Palantir Technologies 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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