Parallel Advisors LLC Has $35.70 Million Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Parallel Advisors LLC trimmed its Palantir stake by 2.7% in the fourth quarter, selling 5,485 shares and leaving it with 200,825 shares valued at about $35.7 million. Palantir remains its 24th-largest holding and about 0.7% of the portfolio.
• Palantir reported strong quarterly results, with EPS of $0.33 beating estimates of $0.28 and revenue of $1.63 billion topping expectations. Revenue rose 84.7% year over year, highlighting continued growth momentum.
• Analysts are mixed but mostly constructive on PLTR, with a consensus rating of “Moderate Buy” and an average price target of $192.76. At the same time, some recent downgrades and valuation concerns suggest the stock remains under scrutiny.

Parallel Advisors LLC lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 200,825 shares of the company's stock after selling 5,485 shares during the quarter. Palantir Technologies makes up approximately 0.7% of Parallel Advisors LLC's investment portfolio, making the stock its 24th largest position. Parallel Advisors LLC's holdings in Palantir Technologies were worth $35,697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PLTR. Bare Financial Services Inc increased its position in Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after buying an additional 55 shares during the last quarter. Basepoint Wealth LLC acquired a new position in Palantir Technologies during the fourth quarter worth approximately $29,000. Morton Brown Family Wealth LLC increased its position in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after buying an additional 125 shares during the last quarter. United Financial Planning Group LLC acquired a new position in Palantir Technologies during the third quarter worth approximately $32,000. Finally, Clayton Financial Group LLC increased its position in Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Down 0.4%

Shares of NASDAQ:PLTR opened at $141.70 on Friday. Palantir Technologies Inc. has a 12-month low of $118.93 and a 12-month high of $207.52. The stock has a market cap of $339.70 billion, a PE ratio of 159.22, a P/E/G ratio of 2.26 and a beta of 1.53. The business has a 50 day moving average of $141.19 and a 200-day moving average of $154.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data 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. 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 analysts' expectations of $1.54 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. The business's revenue was up 84.7% on a year-over-year basis. Equities research analysts expect that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Zacks Research raised Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Weiss Ratings downgraded Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Cantor Fitzgerald reissued a "neutral" rating and set a $138.00 price target on shares of Palantir Technologies in a research report on Friday, May 22nd. HSBC downgraded Palantir Technologies from a "buy" rating to a "hold" rating and lowered their price target for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. Finally, Oppenheimer initiated coverage on Palantir Technologies in a research report on Thursday, April 30th. They set an "outperform" rating and a $200.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $192.76.

More Palantir Technologies News

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

• Positive Sentiment: Palantir announced an expanded partnership with Google Cloud that connects Foundry and AIP with Gemini and BigQuery, and makes Palantir available on Google Cloud Marketplace, which could broaden adoption and distribution. Palantir Announces Availability on Google Cloud Marketplace, Including Two-Way Integrations between BigQuery and Foundry and Deep Connectivity between Gemini and AIP
• Positive Sentiment: The company also unveiled several new enterprise deals at AIPCon 10, including a multi-year partnership with Kirkland & Ellis, a strategic deal with McCarthy Building Companies, and an expansion agreement with GNP Seguros, reinforcing commercial momentum beyond government contracts. GNP Seguros Announces Enterprise Expansion of Palantir Foundry and AIP Across All Lines of Business
• Positive Sentiment: Palantir said customer demos at AIPCon 10 are highlighting real-world deployments of Foundry, AIP, Ontology, and Apollo, which supports the bull case that its AI platform is seeing meaningful usage in production. Palantir Customers Reveal How AI Amplifies Their Tradecraft at AIPCon 10
• Neutral Sentiment: Analysts and commentators are also debating whether recent volatility is just a pause after a strong run or a warning sign that Palantir’s rich valuation leaves little room for error. Is It Time To Reconsider Palantir Technologies (PLTR) After Recent Volatility And Rich Earnings Multiple
• Negative Sentiment: Michael Burry renewed his bearish stance on Palantir, adding to valuation skepticism and likely contributing to some near-term pressure on the stock. Michael Burry Takes Aim at Palantir Stock Again, But He’s Missing the Bigger Picture
• Negative Sentiment: Separate reports also noted criticism of Palantir’s U.K. NHS contract, which keeps regulatory and political risk in focus for investors. Palantir’s £330M NHS deal faces criticism from UK parliamentarians

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 165,514 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the completion of the sale, the insider directly owned 642,786 shares in the company, valued at approximately $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $160.00, for a total value of $255,680.00. Following the completion of the sale, the director owned 55,022 shares of the company's stock, valued at approximately $8,803,520. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 925,789 shares of company stock valued at $126,007,032. Insiders own 9.53% of the company's stock.

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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