Palantir Technologies Inc. $PLTR Stock Sold by Hyperion Asset Management Ltd

Key Points

• Hyperion Asset Management cut its Palantir stake by 41.7% in the third quarter, selling 463,783 shares and retaining 647,697 shares worth approximately $121.2 million.
• Palantir reported strong quarterly results, with revenue up 92.8% year over year to $1.94 billion and earnings of $0.41 per share, exceeding analyst expectations. Institutional investors own about 45.65% of the stock, although insiders and some funds have recently sold shares.
• The stock carries a “Moderate Buy” consensus rating and an average analyst target of $203.28, but its valuation remains a major risk, with a P/E ratio above 166 and expectations for sustained exceptional growth already priced in.

Hyperion Asset Management Ltd cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 41.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 647,697 shares of the company's stock after selling 463,783 shares during the period. Palantir Technologies makes up 3.3% of Hyperion Asset Management Ltd's investment portfolio, making the stock its 13th biggest holding. Hyperion Asset Management Ltd's holdings in Palantir Technologies were worth $121,152,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new position in Palantir Technologies in the 1st quarter valued at $1,574,111,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Palantir Technologies by 277.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company's stock worth $1,528,143,000 after purchasing an additional 7,678,747 shares during the period. Bank of America Corp DE increased its stake in shares of Palantir Technologies by 28.7% in the first quarter. Bank of America Corp DE now owns 18,839,779 shares of the company's stock worth $2,755,883,000 after purchasing an additional 4,201,852 shares during the period. Janus Henderson Group PLC lifted its position in shares of Palantir Technologies by 795.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company's stock worth $480,247,000 after purchasing an additional 2,952,079 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Palantir Technologies by 2.8% during the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company's stock worth $12,190,903,000 after purchasing an additional 2,863,874 shares during the last quarter. 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 partnership with Knox Systems is the main bullish catalyst. The companies plan to accelerate secure software and AI deployments for federal customers operating in FedRAMP and IL5 environments, potentially supporting Palantir’s government growth and recurring revenue. Knox and Palantir Partner to Further Accelerate Delivery of Software through Largest Federal Cloud
• Positive Sentiment: Several market commentators continue to view Palantir as a beneficiary of long-term AI and “sovereign AI” spending, particularly because its software is already deployed in defense and commercial workflows. One analysis also highlighted the TITAN system delivery as evidence that Palantir’s AI offerings are moving from pilot projects into operational use. Palantir: TITAN System Delivery And My DOW Mistake
• Positive Sentiment: Technical analysts describe the stock’s recent rebound from its June low as a strong bullish trend. Palantir is also included among software companies with relatively “sticky” demand that held up during the broader AI sell-off. Palantir stock flashes a rare technical pattern that points to more upside
• Neutral Sentiment: Investors are looking ahead to Palantir’s next earnings report, scheduled for November 2. Analysts expect another strong performance, but the stock’s sharp run-up means results may need to significantly exceed expectations to drive another major advance. 4 Stocks With Demand So Sticky That the AI Sell-Off Barely Touched Them at All
• Negative Sentiment: Valuation is the central risk. Analysts warn that Palantir’s exceptionally high earnings multiple already assumes years of exceptional growth and execution, prompting at least one previously bullish analyst to downgrade the shares to neutral. PLTR Stock’s Biggest Risk Isn’t Slowing Growth, but Its Price
• Negative Sentiment: Recent selling by ARK Invest, other insiders, and exchange-traded funds adds pressure and reinforces concerns that some holders are taking profits near record levels. Cathie Wood Buys CoreWeave Stock as ARK Invest Sells Palantir Stock

Insider Activity at Palantir Technologies

In other news, insider Alexander Karp sold 492,348 shares of Palantir Technologies stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the transaction, the insider owned 6,432,258 shares in the company, valued at $1,124,294,375.82. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 1,250 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $174.29, for a total value of $217,862.50. Following the completion of the transaction, the insider owned 56,921 shares of the company's stock, valued at $9,920,761.09. This represents a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 560,390 shares of company stock valued at $97,909,177 over the last 90 days. Insiders own 9.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Needham & Company LLC set a $215.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 11th. Piper Sandler restated an "overweight" rating and set a $230.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 4th. DA Davidson raised their price target on Palantir Technologies from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, September 11th. Wolfe Research started coverage on Palantir Technologies in a research note on Tuesday, August 4th. They issued a "buy" rating on the stock. Finally, Cantor Fitzgerald started coverage on Palantir Technologies in a report on Tuesday, August 4th. They set an "overweight" rating on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $203.28.

Palantir Technologies Stock Up 0.3%

Shares of PLTR traded up $0.63 during trading hours on Tuesday, reaching $194.78. The stock had a trading volume of 8,086,294 shares, compared to its average volume of 42,100,160. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $212.94. The firm has a 50-day moving average of $182.99 and a 200 day moving average of $152.44. The company has a market cap of $468.06 billion, a P/E ratio of 166.42, a P/E/G ratio of 3.27 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the company posted $0.16 earnings per share. The company's revenue for the quarter was up 92.8% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

Palantir Technologies Company Profile

Palantir Technologies Inc develops software platforms that help government agencies and commercial organizations integrate, analyze and act on data. Its products are designed to support complex operations such as defense and intelligence, supply-chain management, manufacturing, healthcare and other data-intensive activities.

Palantir's principal platforms include Gotham, which is primarily used by government and defense customers; Foundry, which helps commercial and institutional users build data-driven workflows; Apollo, a platform for deploying and managing software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects generative artificial intelligence capabilities with an organization's data and operational systems.

Founded in 2003, the company initially focused on software for government and national-security applications before expanding into commercial markets.

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