State of Wyoming Purchases New Shares in Palantir Technologies Inc. $PLTR

Key Points

• State of Wyoming opened a new position in Palantir during the first quarter, buying 10,175 shares valued at about $1.49 million.
• Institutional interest in PLTR remains significant, with 45.65% of shares held by hedge funds and other institutional investors despite some small-scale buying and selling activity.
• Palantir’s latest earnings were strong, as Q1 revenue rose 84.7% year over year to $1.63 billion and EPS beat estimates, though the stock still faces valuation concerns and mixed analyst views.

State of Wyoming purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,175 shares of the company's stock, valued at approximately $1,488,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $29,000. Morton Brown Family Wealth LLC increased its position in Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after buying an additional 125 shares in the last quarter. Cornerstone Financial Management LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $31,000. Clayton Financial Group LLC raised its position in Palantir Technologies by 500.0% during the 4th 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. Finally, Whipplewood Advisors LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $32,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PLTR. Weiss Ratings cut shares of Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, April 27th. Citigroup increased their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Argus upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a research report on Wednesday, May 6th. Wolfe Research raised shares of Palantir Technologies from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, June 16th. Finally, BNP Paribas Exane started coverage on Palantir Technologies in a research report on Tuesday, June 16th. They issued an "underperform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven 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 has an average rating of "Moderate Buy" and a consensus price target of $190.85.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir continues to post strong fundamental growth, with Q1 revenue up 85% year over year to $1.63 billion and U.S. commercial revenue rising 133%, which supports the long-term bull case. Is Palantir (PLTR) Stock Worth the Premium After 85% Revenue Surge?
• Positive Sentiment: Investors remain upbeat about Palantir’s AI platform and secure software offering, with recent commentary highlighting expanding customer adoption and continued upside potential ahead of earnings. Palantir Stock Price Braces for a 15% Swing as Q2 Earnings Near
• Neutral Sentiment: Some analysts and valuation models still argue the stock may be below fair value on a split valuation basis, but this is not enough to offset the current risk-off sentiment. Palantir Technologies (PLTR) Could Be 23% Below Fair Value On Split Valuation Views
• Negative Sentiment: Regulatory scrutiny over the NHS data contract is increasing concern that Palantir’s government business could face more controversy and reputational risk. Why is Palantir stock falling 5% today?
• Negative Sentiment: Investors are also worried about competition from newer open-source intelligence tools that could overlap with some of Palantir’s core capabilities. Why is Palantir stock falling 5% today?
• Negative Sentiment: Valuation anxiety remains a major headwind, with multiple recent reports suggesting investors are questioning whether the stock’s premium is justified after its sharp run-up. Why Is Palantir Stock Falling on Wednesday?

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $124.57 on Thursday. The company has a market cap of $298.63 billion, a PE ratio of 139.97, a P/E/G ratio of 2.12 and a beta of 1.56. The business has a 50-day simple moving average of $131.98 and a 200-day simple moving average of $143.00. 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 issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The company 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%.The business's quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. On average, sell-side analysts predict that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 19,662 shares of the business'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 $2,674,818.48. Following the sale, the insider directly owned 199,759 shares in the company, valued at $27,175,214.36. The trade was a 8.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,330,093.12. Following the sale, the insider owned 375,242 shares in the company, valued at approximately $51,047,921.68. This trade represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,112,270 shares of company stock valued at $150,247,785 in the last ninety days. Company insiders own 9.53% of the company's stock.

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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