Palantir Technologies Inc. $PLTR Shares Sold by Artemis Wealth Advisors LLC

Key Points

• Artemis Wealth Advisors cut its Palantir stake by 80% in the fourth quarter, selling 16,000 shares and leaving it with 4,000 shares valued at about $711,000.
• Palantir shares were down 2.4% and trading near $127.99, below both its 50-day and 200-day moving averages, while still carrying a rich valuation with a market cap above $306 billion.
• The company recently beat earnings expectations, with Q1 EPS of $0.33 versus $0.28 expected and revenue up 84.7% year over year, even as analysts maintain a Moderate Buy consensus and an average price target of $192.76.

Artemis Wealth Advisors LLC reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 80.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000 shares of the company's stock after selling 16,000 shares during the period. Palantir Technologies comprises approximately 0.1% of Artemis Wealth Advisors LLC's holdings, making the stock its 27th biggest position. Artemis Wealth Advisors LLC's holdings in Palantir Technologies were worth $711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Bare Financial Services Inc grew 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 acquiring an additional 55 shares in the last quarter. Basepoint Wealth LLC acquired a new position in Palantir Technologies during the 4th quarter worth $29,000. United Financial Planning Group LLC acquired a new position in Palantir Technologies during the 3rd quarter worth $32,000. Morton Brown Family Wealth LLC grew its holdings in Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Finally, Clayton Financial Group LLC grew its holdings in Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after acquiring an additional 150 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 2.4%

Palantir Technologies stock opened at $127.99 on Friday. The firm has a 50-day moving average price of $139.54 and a two-hundred day moving average price of $153.76. The firm has a market capitalization of $306.83 billion, a price-to-earnings ratio of 143.81, a PEG ratio of 2.03 and a beta of 1.53. Palantir Technologies Inc. has a 52-week low of $122.68 and a 52-week high of $207.52.

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

Palantir Technologies News Roundup

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR's Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Analysts Set New Price Targets

Several research analysts have weighed in on PLTR shares. Oppenheimer started coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an "outperform" rating and a $200.00 price objective for the company. Argus raised shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research report on Wednesday, May 6th. Wedbush reiterated an "outperform" rating and set a $230.00 price objective on shares of Palantir Technologies in a research note on Friday, June 5th. Benchmark assumed coverage on shares of Palantir Technologies in a research note on Wednesday, April 1st. They set a "hold" rating on the stock. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $138.00 price objective on shares of Palantir Technologies in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $192.76.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 19,662 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at 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 business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the transaction, the insider directly owned 375,242 shares of the company's stock, valued at $51,047,921.68. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 925,789 shares of company stock worth $126,007,032 over the last three months. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.