&PARTNERS Raises Position in Palantir Technologies Inc. $PLTR

Key Points

• &PARTNERS increased its Palantir stake by 22.4% in the fourth quarter, buying 83,274 additional shares and bringing its total holdings to 455,256 shares worth about $81.1 million.
• Palantir continues to draw mixed Wall Street views: several firms kept bullish ratings or raised targets, while others turned more cautious, leaving the stock with a consensus rating of Moderate Buy and an average target price of $192.76.
• Despite a recent insider selling wave, Palantir’s latest earnings were strong, with revenue up 84.7% year over year and EPS of $0.33 topping estimates; however, the stock still trades at a rich valuation with a 149.72 P/E.

&PARTNERS increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 455,256 shares of the company's stock after buying an additional 83,274 shares during the quarter. &PARTNERS's holdings in Palantir Technologies were worth $81,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Bare Financial Services Inc lifted its stake in shares of 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 period. Beaumont Financial Advisors LLC increased its position in shares of Palantir Technologies by 2.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company's stock valued at $527,000 after acquiring an additional 59 shares during the period. Transcend Capital Advisors LLC increased its position in shares of Palantir Technologies by 0.6% in the 4th quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company's stock valued at $1,890,000 after acquiring an additional 60 shares during the period. Sandbox Financial Partners LLC raised its stake in Palantir Technologies by 1.3% in the 4th quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company's stock worth $873,000 after acquiring an additional 61 shares during the last quarter. Finally, San Luis Wealth Advisors LLC raised its stake in Palantir Technologies by 1.6% in the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company's stock worth $726,000 after acquiring an additional 63 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PLTR shares. Zacks Research upgraded Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of Palantir Technologies in a research note on Friday, June 5th. Mizuho decreased their target price on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a report on Tuesday, April 14th. BNP Paribas Exane initiated coverage on Palantir Technologies in a research report on Tuesday. They issued an "underperform" rating on the stock. Finally, Phillip Securities increased their price target on shares of Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $192.76.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal 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, insider Stephen Andrew Cohen sold 319,934 shares of the stock in a transaction dated 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 sale, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 valued at $126,197,785 in the last ninety days. Company insiders own 9.53% of the company's stock.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Wolfe Research upgraded Palantir Technologies (PLTR) to Peer Perform/Hold, signaling that analysts see less downside risk and still view the company as a major AI enterprise player. This Analyst Just Upgraded Palantir Stock. Here's Why.
• Positive Sentiment: Coverage around Palantir’s recent AI partnerships and customer deployments at AIPCon 10 continues to support the bullish long-term AI-growth narrative. Will New AI Partnerships And Governance Votes At AIPCon 10 Change Palantir Technologies' (PLTR) Narrative
• Neutral Sentiment: Some commentary says Palantir remains a leading enterprise AI software provider, but investors are still debating whether the stock’s recent pullback has made the valuation more reasonable. Palantir Technologies (PLTR) Stock Could Be 25.9% Overvalued After AI Rally
• Neutral Sentiment: Insider selling by Jeffrey Buckley was disclosed, but it was a small sale executed under a pre-arranged 10b5-1 plan, so it is more of a sentiment signal than a major fundamental change. Jeffrey Buckley Sells 1,481 Shares of Palantir Technologies NASDAQ: PLTR Stock
• Negative Sentiment: France’s domestic spy agency is reportedly dropping Palantir in favor of a local rival, adding to concerns that European governments may prefer domestic providers for sensitive data projects. French domestic spy agency ditches Palantir for local rival, PM says
• Negative Sentiment: Palantir also lost a Swiss legal challenge tied to government contract scrutiny and data-sovereignty issues, reinforcing regulatory and political risk in Europe. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe
• Negative Sentiment: Analyst commentary also points to Palantir’s still-stretched valuation, which is limiting upside even after the company’s strong AI momentum and recent upgrades. There’s a Catch,’ Says Top Analyst About Palantir (PLTR) Stock

Palantir Technologies Stock Down 1.1%

Shares of PLTR stock opened at $133.25 on Wednesday. The stock 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 50-day simple moving average of $138.96 and a 200-day simple moving average of $153.27. Palantir Technologies Inc. has a 52-week low of $122.68 and a 52-week high of $207.52.

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

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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