Wealthfront Advisers LLC Acquires 13,420 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Wealthfront Advisers LLC increased its Palantir stake by 2.4% in the first quarter, adding 13,420 shares to reach 564,361 shares valued at about $82.6 million.
• Institutional interest in Palantir remains strong, with major holders like Norges Bank, State Street, and others also boosting or starting positions; institutions now own 45.65% of the stock.
• Palantir remains in focus for growth and valuation reasons: recent news highlighted its upcoming Q2 earnings date, government and enterprise AI adoption, but also ongoing concerns about its rich valuation and increasing competition.

Wealthfront Advisers LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 564,361 shares of the company's stock after purchasing an additional 13,420 shares during the period. Wealthfront Advisers LLC's holdings in Palantir Technologies were worth $82,555,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Palantir Technologies in the 4th quarter valued at $5,149,641,000. State Street Corp lifted its stake in Palantir Technologies by 7.2% during the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company's stock valued at $18,471,648,000 after acquiring an additional 6,777,771 shares in the last quarter. Cardano Risk Management B.V. boosted its holdings in Palantir Technologies by 917.4% during the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company's stock worth $1,170,596,000 after acquiring an additional 5,938,343 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Palantir Technologies by 1,449.7% during the 4th quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company's stock worth $937,205,000 after acquiring an additional 4,932,364 shares during the last quarter. Finally, Amundi grew its stake in shares of Palantir Technologies by 38.7% in the 3rd quarter. Amundi now owns 15,679,158 shares of the company's stock worth $2,814,879,000 after acquiring an additional 4,373,201 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir confirmed its Q2 earnings release date, keeping attention on the upcoming Aug. 3 report and reinforcing the idea that the next catalyst could drive the stock higher if results and guidance are strong. Palantir Stock Climbs After Confirming Q2 Earnings Release
• Positive Sentiment: Recent partnership announcements and analyst commentary have kept Palantir in the spotlight, supporting the view that enterprise and government demand for its AI software remains strong. Palantir Stock in Focus After a Busy Stretch of Partnerships, Analyst Activity
• Positive Sentiment: The U.S. Small Business Administration expanded its use of Palantir software to help detect and prosecute pandemic-era fraud, highlighting continued government adoption of PLTR’s platforms. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Commentary around Palantir’s ontology and enterprise AI leadership suggests investors still see the company as a key beneficiary of AI adoption beyond simple model training. Palantir's Ontology Edge Is Redefining AI Software Leadership
• Neutral Sentiment: Several articles focused on Palantir’s extremely rich valuation, with one piece asking whether its premium multiple is justified. That may keep debate intense, but it is not a direct business setback. Palantir Trades at 64X Sales. Here's Whether That Premium Is Justified.
• Neutral Sentiment: Palantir’s CTO accused China’s AI models of being built on stolen U.S. intellectual property, which underscores the company’s hardline AI stance but is more of a geopolitical talking point than a direct earnings driver. Palantir CTO Says China’s AI Models Are Built on “Stolen American IP”
• Negative Sentiment: Some market commentary continues to frame PLTR as overextended versus peers, with articles comparing it unfavorably to Meta and citing concerns about its high multiple and recent volatility. Meta Vs. Palantir: Meta Platforms’ Deep Value Moats Crush Palantir’s Hyper-Inflatated Multiple
• Negative Sentiment: One article said Palantir fell as investors worried about new AI spending from Microsoft and Amazon and competition from Anthropic, suggesting rising competition could pressure sentiment. Why Is Palantir Stock Falling on Tuesday?

Analyst Ratings Changes

PLTR has been the subject of several analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $138.00 target price on shares of Palantir Technologies in a report on Friday, May 22nd. Wedbush initiated coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They set an "outperform" rating on the stock. BNP Paribas Exane began coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They issued an "underperform" rating for the company. Mizuho decreased their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a research note on Tuesday, April 14th. Finally, Argus raised shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 target price on the stock in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of "Moderate Buy" and an average target price of $190.85.

Palantir Technologies Stock Up 0.0%

NASDAQ PLTR opened at $133.76 on Thursday. The company has a market cap of $320.66 billion, a PE ratio of 150.29, a price-to-earnings-growth ratio of 2.14 and a beta of 1.56. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The firm's 50-day simple moving average is $132.36 and its two-hundred day simple moving average is $144.76.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results 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 firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 35,000 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $130.00, for a total value of $4,550,000.00. Following the sale, the insider owned 642,786 shares of the company's stock, valued at $83,562,180. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider owned 592 shares of the company's stock, valued at approximately $80,535.68. This trade represents a 99.82% decrease in their position. 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 1,112,270 shares of company stock valued at $150,247,785 in the last ninety days. 9.53% of the stock is currently owned by corporate insiders.

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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