Salem Investment Counselors Inc. Cuts Position in Palantir Technologies Inc. $PLTR

Key Points

• Salem Investment Counselors reduced its Palantir position by 4.8% in the second quarter, selling 27,674 shares and retaining 552,123 shares worth approximately $64.4 million. Institutional investors collectively own 45.65% of PLTR.
• Palantir reported quarterly revenue of $1.94 billion, up 92.8% year over year, while adjusted EPS of $0.41 exceeded the $0.34 consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $192.19.
• PLTR opened at $179.01, with a market capitalization of about $429.1 billion and a high valuation of 153 times earnings. Insiders have sold roughly $156.2 million of shares over the past 90 days, primarily to cover tax obligations tied to equity awards.

Salem Investment Counselors Inc. trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 552,123 shares of the company's stock after selling 27,674 shares during the period. Palantir Technologies makes up about 1.6% of Salem Investment Counselors Inc.'s holdings, making the stock its 15th largest holding. Salem Investment Counselors Inc.'s holdings in Palantir Technologies were worth $64,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $29,000. Ballast Advisors LLC purchased a new position in Palantir Technologies during the 1st quarter valued at about $29,000. Morton Brown Family Wealth LLC grew its position in Palantir Technologies by 250.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. Cornerstone Financial Management LLC acquired a new position in Palantir Technologies in the 4th quarter valued at about $31,000. Finally, Whipplewood Advisors LLC purchased a new stake in Palantir Technologies during the first quarter worth about $32,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PLTR. Argus raised shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Palantir Technologies in a research note on Friday, July 24th. President Capital upgraded shares of Palantir Technologies from a "neutral" rating to a "buy" rating and increased their target price for the stock from $25.50 to $133.00 in a report on Monday, June 29th. Roth Capital initiated coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They issued a "buy" rating for the company. Finally, Citigroup downgraded shares of Palantir Technologies from a "buy" rating to a "market perform" rating in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $192.19.

Palantir Technologies Price Performance

PLTR stock opened at $179.01 on Friday. The business's 50-day moving average is $133.83 and its two-hundred day moving average is $139.92. The firm has a market capitalization of $429.14 billion, a P/E ratio of 153.00, a P/E/G ratio of 2.44 and a beta of 1.59. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping 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 business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company posted $0.16 earnings per share. The business's revenue for the quarter was up 92.8% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 1.26 EPS for the current year.

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 Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $875,044,378.32. The trade was a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction 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. This represents a 20.48% 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 1,150,302 shares of company stock valued at $156,197,565 over the last ninety days. 9.53% of the stock is currently owned by corporate insiders.

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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