Palantir Technologies Inc. $PLTR Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management cut its Palantir stake by 7.3% in the fourth quarter, selling 101,071 shares and leaving it with 1,292,017 shares valued at about $229.7 million.
• Insiders also sold shares: Shyam Sankar and Stephen Andrew Cohen together sold more than 485,000 shares in May, and Palantir insiders sold 925,789 shares worth about $126.0 million over the last 90 days.
• Despite the selling, analysts remain generally positive on PLTR, with a Moderate Buy consensus and a target price of $192.76, while the stock recently traded near $127.99 after strong quarterly results and rapid revenue growth.

Panagora Asset Management Inc. lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 7.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,292,017 shares of the company's stock after selling 101,071 shares during the quarter. Palantir Technologies comprises approximately 0.8% of Panagora Asset Management Inc.'s holdings, making the stock its 17th largest position. Panagora Asset Management Inc. owned approximately 0.05% of Palantir Technologies worth $229,656,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PLTR. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter worth $5,149,641,000. Vanguard Group Inc. lifted its holdings in shares of Palantir Technologies by 4.0% in the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company's stock valued at $39,017,133,000 after buying an additional 8,168,604 shares during the period. State Street Corp lifted its holdings in shares of Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company's stock valued at $18,471,648,000 after buying an additional 6,777,771 shares during the period. Cardano Risk Management B.V. lifted its holdings in shares of Palantir Technologies by 917.4% in the fourth quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company's stock valued at $1,170,596,000 after buying an additional 5,938,343 shares during the period. Finally, Amundi lifted its holdings in shares of Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company's stock valued at $2,814,879,000 after buying an additional 4,373,201 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. DZ Bank assumed coverage on Palantir Technologies in a report on Thursday, April 23rd. They issued a "buy" rating and a $175.00 price objective for the company. DA Davidson cut their price objective on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. UBS Group upped their price objective on Palantir Technologies from $180.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Phillip Securities upped their price objective on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Finally, Wedbush restated an "outperform" rating and issued a $230.00 price objective on shares of Palantir Technologies in a report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.76.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 165,514 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the sale, the insider directly owned 642,786 shares of the company's stock, valued at $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction on 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 sale, the insider directly owned 592 shares in the company, valued at $80,535.68. This trade represents a 99.82% decrease in their ownership of the stock. 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 sold 925,789 shares of company stock valued at $126,007,032 over the last ninety days. Company insiders own 9.53% of the company's stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $127.99 on Monday. The stock's fifty day moving average is $139.54 and its 200-day moving average is $153.70. The firm has a market capitalization of $306.83 billion, a PE ratio of 143.81, a price-to-earnings-growth ratio of 2.03 and a beta of 1.53. Palantir Technologies Inc. has a 12-month low of $122.68 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates 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 for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. Analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Key Headlines Impacting Palantir Technologies

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

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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