Palantir Technologies Inc. $PLTR Shares Sold by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans slightly reduced its Palantir stake in the fourth quarter, selling 13,771 shares and ending with 1,209,935 shares valued at about $215.1 million.
• Palantir reported a strong quarter, with EPS of $0.33 beating expectations and revenue of $1.63 billion, up 84.7% from a year earlier.
• Despite some mixed analyst views, Wall Street’s overall stance remains Moderate Buy, with a consensus price target of $195.16 versus the stock’s recent price of $133.73.

Thrivent Financial for Lutherans trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,209,935 shares of the company's stock after selling 13,771 shares during the quarter. Thrivent Financial for Lutherans owned 0.05% of Palantir Technologies worth $215,139,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. Revolve Wealth Partners LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth about $450,000. Bison Wealth LLC increased its stake in shares of Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after acquiring an additional 4,667 shares during the period. Capstone Wealth Management Group LLC increased its stake in shares of Palantir Technologies by 38.0% during the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company's stock worth $1,447,000 after acquiring an additional 4,722 shares during the period. Schnieders Capital Management LLC. increased its stake in shares of Palantir Technologies by 36.8% during the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company's stock worth $858,000 after acquiring an additional 1,694 shares during the period. Finally, Vivaldi Capital Management LP acquired a new position in shares of Palantir Technologies during the second quarter worth about $315,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $133.73 on Friday. Palantir Technologies Inc. has a 12-month low of $118.93 and a 12-month high of $207.52. The company has a market capitalization of $320.59 billion, a PE ratio of 150.26, a price-to-earnings-growth ratio of 2.06 and a beta of 1.52. The firm's 50-day moving average is $145.01 and its two-hundred day moving average is $159.97.

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

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $200.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 3rd. Northland Securities raised shares of Palantir Technologies from a "market perform" rating to an "outperform" rating and set a $190.00 price objective on the stock in a report on Tuesday, February 3rd. Cantor Fitzgerald reissued a "neutral" rating on shares of Palantir Technologies in a report on Tuesday, February 3rd. Finally, Benchmark initiated coverage on shares of Palantir Technologies in a report on Wednesday, April 1st. They set a "hold" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $195.16.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Analyst optimism remains a tailwind, with Freedom Broker reportedly raising its price target on Palantir to $230 and reiterating a Buy rating after the company’s strong Q1 results. Freedom Broker Lifts Palantir (PLTR) Price Target After Strong Results
• Positive Sentiment: Multiple pieces argue the post-earnings selloff may be overdone, citing Palantir’s rapid revenue growth, expanding commercial adoption, and the view that the AI boom is still early in its cycle. Ignore the Post-Earnings Selloff in Palantir Stock: The AI Revolution Is Just in the ‘Third Inning’
• Positive Sentiment: Palantir’s defense and autonomy ecosystem is also in focus after partner Ondas reported explosive revenue growth and raised guidance, which helps validate Palantir’s presence in fast-growing defense-tech use cases. Palantir-Backed Ondas Stock Soars. Autonomous Drone Company Sees Revenue Grow 1,065%.
• Positive Sentiment: Palantir also got a boost from news that its AI capabilities may be further leveraged in Ukraine’s war effort, reinforcing the company’s strategic relevance in defense and government contracts. Ukraine Will Leverage Palantir’s AI Capabilities In Its War With Russia. This Helps Prove PLTR Stock Will Never Be Irrelevant.
• Neutral Sentiment: Some headlines are highlighting heavier retail selling, insider selling, and valuation concerns, suggesting part of the market still sees PLTR as expensive after its big run. Retail traders are trimming holdings of longtime AI favorite Palantir in a pivot from software stocks
• Neutral Sentiment: Other coverage notes that Google’s expanded DoD AI contract could increase competition for government AI spending, which may pressure sentiment around Palantir’s long-term growth runway. Why Palantir Suddenly Looks Vulnerable After Google’s Move (PLTR)

Insider Buying and Selling

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,232 shares of the company's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $129.08, for a total value of $159,026.56. Following the sale, the insider owned 43,108 shares of the company's stock, valued at $5,564,380.64. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 17,438 shares of the company's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $2,331,809.36. Following the transaction, the insider directly owned 392,370 shares in the company, valued at $52,467,716.40. The trade was a 4.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,029,479 shares of company stock valued at $137,685,797. 9.53% of the stock is owned by company insiders.

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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