Palantir Technologies Inc. $PLTR Shares Sold by Buffalo Business & Estate Services Ltd.

Key Points

• Buffalo Business & Estate Services Ltd. slashed its Palantir stake by 92% in the first quarter, selling 79,159 shares and leaving it with 6,883 shares valued at about $1.0 million.
• Palantir also saw significant insider selling, including large May transactions by CEO Alex Karp and insider Stephen Cohen, with insiders selling 927,270 shares worth about $126.2 million over the last 90 days.
• The stock remains a mixed story for investors: Palantir recently beat earnings and revenue estimates with 84.7% year-over-year revenue growth, but the shares have also fallen to near their 52-week low amid valuation concerns and weaker sentiment around expensive AI stocks.

Buffalo Business & Estate Services Ltd. cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 92.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,883 shares of the company's stock after selling 79,159 shares during the quarter. Buffalo Business & Estate Services Ltd.'s holdings in Palantir Technologies were worth $1,007,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bare Financial Services Inc raised its position in Palantir Technologies by 54.5% in the third 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 bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $29,000. Morton Brown Family Wealth LLC boosted its position in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after purchasing an additional 125 shares in the last quarter. Cornerstone Financial Management LLC acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $31,000. Finally, United Financial Planning Group LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $32,000. Institutional investors own 45.65% of the company's stock.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir announced it secured a foundational role in the U.S. Army’s Next Generation Command and Control data layer, reinforcing its position in defense modernization and supporting its long-term government revenue story. Palantir Secures Foundational Role in NGC2 Data Layer
• Positive Sentiment: Several recent commentaries highlighted Palantir’s strong fundamentals, including rapid U.S. revenue growth and continued analyst optimism, suggesting some investors still see value after the pullback. Palantir's 104% U.S. Revenue Growth is the One Number You Should Watch
• Neutral Sentiment: Some articles argued the stock may now be more fairly valued after its recent pullback, but others said the valuation still leaves little room for error given the premium multiple. Palantir Technologies (PLTR) Stock After Recent Pullback Is The Price Now Fair?
• Negative Sentiment: Palantir hit a new 52-week low as traders reduced exposure to expensive AI/software stocks, and several reports flagged the stock’s weakness relative to the broader market and peers. What Happened With Palantir Stock Today?
• Negative Sentiment: Reports that France’s domestic intelligence agency is replacing Palantir with a local rival and that Palantir lost a major international contract are weighing on sentiment around overseas government demand. French Domestic Intelligence Agency Replaces Palantir (PLTR) for Local Rival, Reuters Reports

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 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 $54,109,093.76. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $875,044,378.32. This represents a 5.82% decrease in their position. The sale 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 Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider owned 592 shares of the company's stock, valued at approximately $80,535.68. This represents a 99.82% 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. Over the last ninety days, insiders have sold 927,270 shares of company stock worth $126,197,785. 9.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group raised shares of Palantir Technologies from a "buy" rating to a "buy" rating in a research note on Tuesday, June 16th. HSBC lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating and decreased their price target for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. Oppenheimer started 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. Phillip Securities raised their price objective on Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. Finally, Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $192.76.

Palantir Technologies Price Performance

PLTR stock opened at $119.50 on Tuesday. Palantir Technologies Inc. has a 52-week low of $119.20 and a 52-week high of $207.52. The company's 50 day simple moving average is $137.72 and its 200-day simple moving average is $152.10. The firm has a market capitalization of $286.48 billion, a P/E ratio of 134.27, a P/E/G ratio of 2.04 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.Palantir Technologies's revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

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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