Sterling Capital Management LLC Has $9.71 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Sterling Capital Management cut its Palantir stake by 28% in the first quarter, leaving it with 66,348 shares worth about $9.71 million at the end of the period.
• Several other institutions made smaller moves in Palantir, while institutional investors and hedge funds still own 45.65% of the company’s stock.
• Palantir also saw notable insider selling, including large May 20 sales by Stephen Andrew Cohen and Shyam Sankar; in the last 90 days, insiders sold 927,270 shares worth about $126.2 million.

Sterling Capital Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 28.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 66,348 shares of the company's stock after selling 25,801 shares during the period. Sterling Capital Management LLC's holdings in Palantir Technologies were worth $9,705,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Beaumont Financial Advisors LLC increased its holdings in Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company's stock valued at $527,000 after purchasing an additional 59 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in Palantir Technologies by 0.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company's stock worth $1,890,000 after buying an additional 60 shares during the last quarter. Sandbox Financial Partners LLC boosted its holdings in Palantir Technologies by 1.3% during the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company's stock worth $873,000 after buying an additional 61 shares during the last quarter. San Luis Wealth Advisors LLC grew its position in shares of Palantir Technologies by 1.6% during the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company's stock worth $726,000 after buying an additional 63 shares during the period. Finally, Monument Capital Management grew its position in shares of Palantir Technologies by 1.2% during the 4th quarter. Monument Capital Management now owns 5,341 shares of the company's stock worth $949,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 319,934 shares of the company's 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 completion of the transaction, the insider directly owned 592 shares of the company's stock, valued at $80,535.68. This represents a 99.82% decrease in their ownership of the stock. 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 Shyam Sankar sold 165,514 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 value of $22,516,524.56. Following the transaction, the insider owned 642,786 shares of the company's stock, valued at approximately $87,444,607.44. The trade was 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. In the last 90 days, insiders have sold 927,270 shares of company stock worth $126,197,785. 9.53% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 5.3%

Palantir Technologies stock opened at $112.93 on Friday. The company has a 50 day moving average of $135.96 and a 200-day moving average of $150.44. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52. The stock has a market capitalization of $270.73 billion, a PE ratio of 126.89, a price-to-earnings-growth ratio of 1.73 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm's quarterly revenue was up 84.7% on a year-over-year basis. During the same period last year, the business posted $0.13 earnings per share. Equities analysts anticipate that Palantir Technologies Inc. will post 1.16 EPS for the current fiscal year.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: ARK Invest reportedly bought about $3.3 million of Palantir shares, helping fuel “buy the dip” interest after the stock hit 52-week lows. Why Is Palantir Stock Surging On Friday?
• Positive Sentiment: Wedbush and other bullish commentators argued the recent tech selloff is a buying opportunity, saying investors still underestimate Palantir’s role in enterprise AI. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: New growth catalysts were highlighted from Palantir’s partnerships with Zeta Global and the U.S. Army, reinforcing demand for its software platform. Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
• Positive Sentiment: Several articles pointed out that PLTR has become one of the most oversold mega-cap tech names, suggesting the stock may be stretched too far to the downside. Palantir Becomes Most Oversold Mega-Cap Tech Stock
• Neutral Sentiment: Palantir’s recent rebound also came as software stocks outperformed semiconductors, reflecting a broader sector rotation rather than a company-specific breakthrough. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Negative Sentiment: Despite the bounce, Palantir is still under pressure from a broad AI/software selloff, concerns about rich valuation, and fear that expectations ran ahead of fundamentals. Why Palantir Stock Soared Today
• Negative Sentiment: Bearish coverage also continued, including a Seeking Alpha piece on “accelerating AI risks,” underscoring investor worries about competition and the sustainability of Palantir’s premium multiple. Palantir: Accelerating AI Risks

Analyst Ratings Changes

A number of analysts recently weighed in on PLTR shares. BTIG Research downgraded shares of Palantir Technologies to a "neutral" rating in a research report on Tuesday, June 16th. Wolfe Research raised shares of Palantir Technologies from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, June 16th. Wedbush began coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an "outperform" rating on the stock. Zacks Research upgraded shares of Palantir Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of Palantir Technologies in a research report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $192.76.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

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.