Palantir Technologies Inc. $PLTR Stock Position Decreased by BXM Wealth LLC

Key Points

• BXM Wealth LLC cut its Palantir stake by 63.6% in the first quarter, selling 8,693 shares and leaving it with 4,985 shares worth about $729,000.
• Insider selling has been notable, including sales by Jeffrey Buckley and Stephen Andrew Cohen, with insiders selling 927,270 shares worth roughly $126.2 million over the last 90 days.
• Wall Street remains mixed but constructive on Palantir: the consensus rating is “Moderate Buy,” and the average price target stands at $190.46, even as some analysts still rate the stock negatively.

BXM Wealth LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 63.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,985 shares of the company's stock after selling 8,693 shares during the quarter. BXM Wealth LLC's holdings in Palantir Technologies were worth $729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Basepoint Wealth LLC bought a new stake in Palantir Technologies in the fourth quarter worth approximately $29,000. Morton Brown Family Wealth LLC increased its stake 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 worth $31,000 after purchasing an additional 125 shares during the last quarter. Cornerstone Financial Management LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at $31,000. United Financial Planning Group LLC bought a new position in shares of Palantir Technologies during the 3rd quarter valued at $32,000. Finally, Clayton Financial Group LLC raised its holdings in shares of Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Activity

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,481 shares of the stock in a transaction on Thursday, June 11th. The shares were 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 of the company's stock, valued at $7,757,108.80. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the firm'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 $43,523,821.36. Following the completion of the sale, the insider owned 592 shares in the company, valued at $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. Insiders have sold 927,270 shares of company stock worth $126,197,785 over the last 90 days. Company insiders own 9.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLTR. Citigroup upped their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. 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 reaffirmed an "underperform" rating and issued a $90.00 price target on shares of Palantir Technologies in a research report on Tuesday, May 5th. Wolfe Research upgraded Palantir Technologies from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, June 16th. Finally, Argus raised Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $190.46.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir announced a strategic partnership with Nvidia to run AI and Nemotron models in secure government and critical-infrastructure environments, boosting its sovereign AI growth narrative. Palantir Launches Engine for Deploying NVIDIA Nemotron Open Models in Sovereign Environments
• Positive Sentiment: Reports that Japan could use Palantir’s Maven Smart System added another potential international government-use case for its AI software. Japan considers using Palantir's Maven Smart System
• Positive Sentiment: Several articles highlighted that Palantir’s recent selloff may have made the stock more attractive, while buying from Ark Invest and upbeat analyst commentary provided extra support. Cathie Wood Is Backing the Truck Up on Palantir Stock. Is She Finally Right?

Palantir Technologies Price Performance

PLTR stock opened at $115.67 on Tuesday. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $207.52. The company has a 50-day moving average of $135.42 and a two-hundred day moving average of $149.76. The stock has a market capitalization of $277.30 billion, a price-to-earnings ratio of 129.97, a price-to-earnings-growth ratio of 1.82 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued 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. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm's revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. Equities analysts expect that Palantir Technologies Inc. will post 1.16 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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