Straight Path Wealth Management Cuts Position in Palantir Technologies Inc. $PLTR

Key Points

• Straight Path Wealth Management cut its Palantir stake by 29% in the fourth quarter, selling 8,903 shares and ending with 21,790 shares worth about $3.87 million.
• Several other institutions either added to or initiated positions in Palantir, while hedge funds and other institutional investors still own 45.65% of the company.
• Analyst sentiment has turned more mixed, with HSBC downgrading Palantir to hold and reducing its price target, even though the stock still carries a consensus Moderate Buy rating and an average target of $192.76.

Straight Path Wealth Management decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,790 shares of the company's stock after selling 8,903 shares during the quarter. Palantir Technologies comprises approximately 1.0% of Straight Path Wealth Management's portfolio, making the stock its 17th biggest holding. Straight Path Wealth Management's holdings in Palantir Technologies were worth $3,873,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PLTR. Revolve Wealth Partners LLC purchased a new position in Palantir Technologies in the fourth quarter worth $450,000. Bison Wealth LLC raised its position in Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after acquiring an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC raised its position in Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company's stock worth $1,447,000 after acquiring an additional 4,722 shares in the last quarter. Schnieders Capital Management LLC. raised its position in Palantir Technologies by 36.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company's stock worth $858,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Vivaldi Capital Management LP purchased a new position in Palantir Technologies in the second quarter worth $315,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. HSBC cut Palantir Technologies from a "buy" rating to a "hold" rating and cut their price objective for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. Mizuho dropped their price target on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a research report on Tuesday, April 14th. DA Davidson dropped their price target on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating for the company in a research report on Tuesday, May 5th. Weiss Ratings cut Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $138.00 price target on shares of Palantir Technologies in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $192.76.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 165,514 shares of the firm's 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 sale, the insider directly owned 642,786 shares of the company's stock, valued at approximately $87,444,607.44. This trade represents a 20.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 925,789 shares of company stock worth $126,007,032 in the last quarter. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Down 0.4%

Shares of NASDAQ:PLTR opened at $141.70 on Friday. The stock's 50-day moving average price is $141.19 and its two-hundred day moving average price is $154.99. Palantir Technologies Inc. has a 12-month low of $118.93 and a 12-month high of $207.52. The firm has a market cap of $339.70 billion, a price-to-earnings ratio of 159.22, a PEG ratio of 2.26 and a beta of 1.53.

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

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir announced an expanded partnership with Google Cloud that connects Foundry and AIP with Gemini and BigQuery, and makes Palantir available on Google Cloud Marketplace, which could broaden adoption and distribution. Palantir Announces Availability on Google Cloud Marketplace, Including Two-Way Integrations between BigQuery and Foundry and Deep Connectivity between Gemini and AIP
• Positive Sentiment: The company also unveiled several new enterprise deals at AIPCon 10, including a multi-year partnership with Kirkland & Ellis, a strategic deal with McCarthy Building Companies, and an expansion agreement with GNP Seguros, reinforcing commercial momentum beyond government contracts. GNP Seguros Announces Enterprise Expansion of Palantir Foundry and AIP Across All Lines of Business
• Positive Sentiment: Palantir said customer demos at AIPCon 10 are highlighting real-world deployments of Foundry, AIP, Ontology, and Apollo, which supports the bull case that its AI platform is seeing meaningful usage in production. Palantir Customers Reveal How AI Amplifies Their Tradecraft at AIPCon 10
• Neutral Sentiment: Analysts and commentators are also debating whether recent volatility is just a pause after a strong run or a warning sign that Palantir’s rich valuation leaves little room for error. Is It Time To Reconsider Palantir Technologies (PLTR) After Recent Volatility And Rich Earnings Multiple
• Negative Sentiment: Michael Burry renewed his bearish stance on Palantir, adding to valuation skepticism and likely contributing to some near-term pressure on the stock. Michael Burry Takes Aim at Palantir Stock Again, But He’s Missing the Bigger Picture
• Negative Sentiment: Separate reports also noted criticism of Palantir’s U.K. NHS contract, which keeps regulatory and political risk in focus for investors. Palantir’s £330M NHS deal faces criticism from UK parliamentarians

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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