Palantir Technologies Inc. $PLTR Shares Sold by First Horizon Corp

Key Points

• First Horizon Corp reduced its Palantir stake by 33% in the first quarter, selling 4,167 shares and ending with 8,464 shares valued at about $1.24 million.
• Despite some mixed sentiment around valuation, Palantir continues to draw bullish attention from analysts and investors, with Citi naming it one of its top software picks for 2026 and multiple firms maintaining positive ratings.
• Palantir’s recent fundamentals remain strong, as the company posted 84.7% year-over-year revenue growth and beat earnings expectations in its latest quarterly report, while U.S. business growth was highlighted as especially strong.

First Horizon Corp trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,464 shares of the company's stock after selling 4,167 shares during the quarter. First Horizon Corp's holdings in Palantir Technologies were worth $1,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Basepoint Wealth LLC acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $29,000. Morton Brown Family Wealth LLC grew its stake in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after buying an additional 125 shares during the period. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $31,000. United Financial Planning Group LLC acquired a new stake in shares of Palantir Technologies in the third quarter worth $32,000. Finally, Clayton Financial Group LLC raised its stake in shares of Palantir Technologies by 500.0% in the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock valued at $32,000 after acquiring an additional 150 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies News Roundup

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

• Positive Sentiment: Palantir’s U.S. business is still expanding rapidly, with one article highlighting 104% U.S. revenue growth as a key bullish number to watch. Palantir's 104% U.S. Revenue Growth is the Key Number to Watch
• Positive Sentiment: Citi named PLTR one of its top three software stock picks for 2026, reinforcing Wall Street’s belief that Palantir remains a leading AI software name. Why Citi Picks PLTR, MDB, and SNOW as Its Top Three Software Stocks for 2026
• Positive Sentiment: Palantir landed a multiyear expansion with GNP Seguros, its first publicly disclosed commercial customer in Latin America, and finalized a deployment framework with Rackspace for regulated and sovereign environments. Palantir (PLTR) Lands First Latin America Commercial Customer With GNP And Rackspace
• Positive Sentiment: Multiple pieces note that Palantir continues to benefit from strong AI demand, a widening moat, and expectations for another strong earnings report. What to Expect From Palantir’s Q2 2026 Earnings Report
• Neutral Sentiment: Several articles framed PLTR as an expensive but high-quality AI stock, suggesting investors are focused less on the business itself and more on whether the valuation can support further upside. Palantir Stock Is Down 36% From Its All-Time High. Time to Buy?
• Negative Sentiment: One research note argued the recent bounce is not a buying opportunity, warning that Palantir’s valuation remains “nosebleed” territory compared with larger tech rivals. Palantir's Stock Has Bounced 23% Off Its Low— One Research Firm Says That's the Trap: 'We Still Won't Buy It'
• Negative Sentiment: Another article pointed out that PLTR remains far below its peak, with investors questioning whether the strong growth is enough to justify the current price. Can Palantir Stock Reach $200 in 2026?

Insider Buying and Selling

In related news, insider David A. Glazer sold 17,128 shares of the business'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 $2,330,093.12. Following the transaction, the insider owned 375,242 shares in the company, valued at approximately $51,047,921.68. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 the 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 completion of the transaction, 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 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 1,112,270 shares of company stock worth $150,247,785 over the last quarter. Company insiders own 9.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PLTR shares. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of Palantir Technologies in a report on Friday, June 5th. Royal Bank Of Canada reiterated an "underperform" rating and issued a $90.00 price target on shares of Palantir Technologies in a report on Tuesday, May 5th. HSBC lowered Palantir Technologies from a "buy" rating to a "hold" rating and cut their price objective for the company from $205.00 to $151.00 in a research report on Friday, May 1st. Wedbush assumed coverage on Palantir Technologies in a research note on Tuesday, June 16th. They set an "outperform" rating on the stock. Finally, BTIG Research downgraded Palantir Technologies to a "neutral" rating in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $190.85.

Palantir Technologies Trading Down 1.7%

Shares of PLTR stock opened at $126.79 on Friday. The company has a market capitalization of $303.95 billion, a PE ratio of 142.46, a price-to-earnings-growth ratio of 2.06 and a beta of 1.56. The firm has a fifty day simple moving average of $132.58 and a 200-day simple moving average of $146.40. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month 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 for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business earned $0.13 EPS. The business's revenue was up 84.7% on a year-over-year basis. Equities research analysts predict that Palantir Technologies Inc. will post 1.17 EPS 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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