Palantir Technologies Inc. $PLTR Shares Sold by State of Wisconsin Investment Board

Key Points

• State of Wisconsin Investment Board slightly reduced its Palantir stake in the fourth quarter, selling 6,750 shares and ending with 1,189,602 shares valued at about $211.5 million.
• Palantir continues to draw attention from investors and analysts thanks to its AI momentum and enterprise growth outlook, with recent coverage highlighting strong customer demand and new partnerships.
• The stock remains controversial: Palantir posted better-than-expected earnings and revenue growth, but analysts still flag its rich valuation and recent insider selling, while Europe-related contract and regulatory issues add risk.

State of Wisconsin Investment Board trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,189,602 shares of the company's stock after selling 6,750 shares during the quarter. Palantir Technologies accounts for about 0.5% of State of Wisconsin Investment Board's portfolio, making the stock its 24th biggest holding. State of Wisconsin Investment Board's holdings in Palantir Technologies were worth $211,452,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc increased its holdings in shares of Palantir Technologies by 54.5% in the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company's stock valued at $28,000 after purchasing an additional 55 shares during the period. Basepoint Wealth LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $29,000. Morton Brown Family Wealth LLC increased its holdings in shares of Palantir Technologies by 250.0% in 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 during the period. Cornerstone Financial Management LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $31,000. Finally, United Financial Planning Group LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at about $32,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Wolfe Research upgraded Palantir to Peer Perform, and other analysts remain constructive on its AI platform and enterprise growth outlook, which is helping offset some of the bearish sentiment around the name. This Analyst Just Upgraded Palantir Stock. Here's Why.
• Positive Sentiment: Coverage continues to highlight Palantir’s strong AI momentum, new partnerships, and expanding customer deployments, reinforcing the view that demand for its software remains robust. Will New AI Partnerships And Governance Votes At AIPCon 10 Change Palantir Technologies' (PLTR) Narrative
• Positive Sentiment: A reported purchase of PLTR shares by a U.S. senator with defense oversight duties is being viewed by some investors as a signal of confidence in Palantir’s government-contracting franchise. U.S. senator makes super suspicious Palantir stock trade
• Neutral Sentiment: Some commentary argues Palantir may be attractive after its pullback, but this is mainly a valuation debate rather than a fresh business catalyst. Down Nearly 40% From Its Highs, Is Palantir Stock a Once-in-a-Decade Buying Opportunity?
• Negative Sentiment: Palantir is facing fresh Europe-related headwinds after French authorities reportedly ended its work with the country’s intelligence agency, favoring a domestic provider instead. Update: Palantir Technologies to Stop Working With French Intelligence, PM Lecornu Says
• Negative Sentiment: A Swiss legal loss over government contract scrutiny adds to investor worries about data-sovereignty and regulatory challenges in Europe, which could limit international expansion. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe
• Negative Sentiment: Analysts also continue to flag Palantir’s stretched valuation, and some reports note insider selling, both of which can temper enthusiasm even with strong AI growth. Palantir Technologies (PLTR) Stock Could Be 25.9% Overvalued After AI Rally.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $133.25 on Wednesday. Palantir Technologies Inc. has a twelve month low of $122.68 and a twelve month high of $207.52. The firm has a market cap of $319.44 billion, a PE ratio of 149.72, a price-to-earnings-growth ratio of 2.14 and a beta of 1.53. The business has a fifty day moving average of $138.96 and a 200-day moving average of $153.27.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PLTR. Benchmark downgraded Palantir Technologies to a "hold" rating in a report on Tuesday. Wedbush initiated coverage on Palantir Technologies in a report on Tuesday. They issued an "outperform" rating on the stock. Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Citigroup increased their price objective on Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, HSBC downgraded Palantir Technologies from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $205.00 to $151.00 in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Moderate Buy" and a consensus target price of $192.76.

Insider Buying and Selling

In related news, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares in the company, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 397,744 shares of Palantir Technologies 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 completion of the sale, the insider owned 6,432,258 shares of the company's stock, valued at approximately $875,044,378.32. The trade was a 5.82% 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. Insiders sold a total of 927,270 shares of company stock valued at $126,197,785 in the last 90 days. 9.53% of the stock is owned by corporate insiders.

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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