Sycale Advisors NY LLC Makes New Investment in Palantir Technologies Inc. $PLTR

Key Points

• Sycale Advisors NY LLC opened a new position in Palantir Technologies during the first quarter, buying 49,827 shares worth about $7.29 million. The stake represents roughly 3.6% of the firm’s portfolio and its 12th-largest holding.
• Palantir posted strong quarterly results, with EPS of $0.33 topping estimates and revenue of $1.63 billion beating expectations. Revenue surged 84.7% year over year, while analysts now expect 1.17 EPS for the current fiscal year.
• Wall Street sentiment remains constructive overall, with a Moderate Buy consensus and a target price of $190.85. However, the stock remains expensive by many measures, and insiders have sold shares in recent months, including CEO Alexander Karp.

Sycale Advisors NY LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 49,827 shares of the company's stock, valued at approximately $7,289,000. Palantir Technologies accounts for approximately 3.6% of Sycale Advisors NY LLC's investment portfolio, making the stock its 12th largest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at $29,000. Morton Brown Family Wealth LLC raised its stake in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Cornerstone Financial Management LLC acquired a new position in Palantir Technologies during the fourth quarter worth $31,000. Clayton Financial Group LLC lifted its holdings in shares of Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock valued at $32,000 after acquiring an additional 150 shares during the period. Finally, Wexford Capital LP bought a new position in shares of Palantir Technologies during the third quarter valued at $36,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLTR has been the topic of several analyst reports. Weiss Ratings lowered shares of Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, April 27th. UBS Group raised shares of Palantir Technologies from a "buy" rating to a "buy" rating in a report on Tuesday, June 16th. Wedbush assumed coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They issued an "outperform" rating on the stock. Citigroup upped their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Zacks Research raised shares of Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $190.85.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $124.57 on Thursday. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52. The firm has a market cap of $298.63 billion, a PE ratio of 139.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56. The business has a fifty day moving average of $131.98 and a 200-day moving average of $143.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. On average, analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

More Palantir Technologies News

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?

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 17,128 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 $2,330,093.12. Following the completion of the transaction, the insider directly owned 375,242 shares of the company's stock, valued at approximately $51,047,921.68. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following 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 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. In the last 90 days, insiders sold 1,112,270 shares of company stock valued at $150,247,785. Insiders own 9.53% of the company's stock.

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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