Plancorp LLC Sells 3,071 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Plancorp LLC cut its Palantir stake by 45.6% during the second quarter, selling 3,071 shares and retaining 3,669 shares valued at approximately $428,000.
• Institutional ownership remains substantial at 45.65%, with major investors including Vanguard, State Street, Geode Capital and Invesco increasing their positions. Insiders, however, have sold more than 1.15 million shares worth about $156.2 million over the past 90 days.
• Palantir reported strong quarterly results, with revenue rising 92.8% year over year to $1.94 billion and earnings exceeding estimates. Analysts maintain a “Moderate Buy” consensus, with an average price target of $192.19, although some firms have downgraded the stock or retained neutral ratings.

Plancorp LLC reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 45.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,669 shares of the company's stock after selling 3,071 shares during the quarter. Plancorp LLC's holdings in Palantir Technologies were worth $428,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock valued at $38,295,188,000 after buying an additional 1,557,828 shares during the last quarter. State Street Corp increased its stake in Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company's stock valued at $18,198,990,000 after acquiring an additional 1,126,418 shares during the period. Geode Capital Management LLC increased its stake in Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock valued at $9,599,882,000 after acquiring an additional 805,047 shares during the period. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $5,149,641,000. Finally, Invesco Ltd. raised its holdings in Palantir Technologies by 2.8% in the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock valued at $3,984,281,000 after acquiring an additional 616,297 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Blowout quarterly performance remains the primary catalyst. Palantir reported revenue of $1.94 billion, up 92.8% year over year and above the $1.81 billion consensus estimate. Adjusted earnings also exceeded expectations, while management raised its full-year outlook. The results reinforced confidence that growth in government and commercial AI applications is accelerating. Palantir Stock Forecast – How Much Upside Do Analysts Expect?
• Positive Sentiment: Artificial Intelligence Platform adoption is supporting the long-term growth narrative. Articles highlight Palantir’s AIP as a key driver of its shift from a primarily government contractor to a broader enterprise AI partner. Strong U.S. demand, sovereign AI spending and a growing commercial pipeline are fueling bullish forecasts, including expectations for continued earnings momentum. Palantir AIP Could Deliver a Powerful Shift in the Company’s Growth Trajectory
• Positive Sentiment: Market momentum and broader risk appetite are helping AI software names. Palantir was identified as breaking through a new buy point as investors favored AI-linked companies and remained optimistic about U.S. technology and defense demand. Palantir Shares Edge Higher Thursday: What’s Driving the Action?

Insider Activity

In related news, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the completion of the transaction, the insider directly owned 592 shares of the company's stock, valued at $80,535.68. This trade represents a 99.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 35,000 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $155.70, for a total transaction of $5,449,500.00. Following the completion of the transaction, the insider owned 642,786 shares in the company, valued at approximately $100,081,780.20. This trade represents a 5.16% 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. Insiders have sold a total of 1,150,302 shares of company stock worth $156,197,565 over the last 90 days. 9.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLTR. Needham & Company LLC set a $215.00 price objective on Palantir Technologies in a report on Tuesday. The Goldman Sachs Group restated a "neutral" rating and issued a $204.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 4th. Citigroup cut Palantir Technologies from a "buy" rating to a "market perform" rating in a research report on Tuesday, August 4th. Benchmark reiterated a "hold" rating on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, Wedbush initiated coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an "outperform" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $192.19.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $179.01 on Friday. The business has a 50 day simple moving average of $133.83 and a 200 day simple moving average of $139.92. The company has a market capitalization of $429.14 billion, a PE ratio of 153.00, a price-to-earnings-growth ratio of 2.44 and a beta of 1.59. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.81 billion. During the same period in the prior year, the business posted $0.16 earnings per share. The business's revenue was up 92.8% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 1.26 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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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