WealthPLAN Partners LLC Cuts Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• WealthPLAN Partners LLC cut its Palantir stake by 53.7% in the first quarter, selling 8,504 shares and leaving it with 7,326 shares worth about $1.07 million.
• Institutional ownership remains significant, with 45.65% of Palantir shares held by hedge funds and other institutional investors, and several firms recently increasing positions.
• Palantir continues to post strong operating results and positive analyst momentum, including Q1 earnings of $0.33 per share beating estimates and revenue up 84.7% year over year, while multiple analysts recently upgraded the stock or raised price targets.

WealthPLAN Partners LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 53.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,326 shares of the company's stock after selling 8,504 shares during the quarter. WealthPLAN Partners LLC's holdings in Palantir Technologies were worth $1,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Milestone Asset Management LLC grew its stake in shares of Palantir Technologies by 229.5% during the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company's stock worth $10,763,000 after purchasing an additional 42,173 shares during the period. VCI Wealth Management LLC lifted its stake in shares of Palantir Technologies by 42.3% in the fourth quarter. VCI Wealth Management LLC now owns 12,187 shares of the company's stock valued at $2,166,000 after purchasing an additional 3,621 shares during the period. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock valued at $38,295,188,000 after purchasing an additional 1,557,828 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in Palantir Technologies during the fourth quarter worth about $222,143,000. Finally, Jefferson Bridge Capital LLC purchased a new stake in Palantir Technologies during the fourth quarter worth about $1,322,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir announced an expansion agreement with GNP Seguros, giving it its first publicly announced commercial customer in Latin America and underscoring international growth potential. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
• Positive Sentiment: DA Davidson upgraded Palantir to Buy, adding analyst credibility to the recent rebound and supporting the view that the stock’s AI platform is gaining value with enterprises. DA Davidson Upgrades Palantir (PLTR) To Buy
• Positive Sentiment: Coverage tied Palantir’s recent move to its expanded Nvidia partnership and stronger sovereign AI positioning, which investors see as a major long-term growth channel in government and critical infrastructure. Palantir's AI Position Wins New Support From Analysts
• Positive Sentiment: Market commentary also pointed to Palantir’s defense and AI momentum, including new international contract traction and expanding adoption of its software stack, which can fuel expectations for continued revenue growth. Why Palantir Stock Ticked Higher on Tuesday

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $134.37 on Wednesday. The firm's 50-day moving average is $133.27 and its two-hundred day moving average is $147.37. The company has a market capitalization of $322.13 billion, a PE ratio of 150.98, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month 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 for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same period last year, the company posted $0.13 EPS. The company's revenue was up 84.7% on a year-over-year basis. On average, analysts forecast that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the subject of a number of research analyst reports. President Capital raised shares of Palantir Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $25.50 to $133.00 in a report on Monday, June 29th. Argus upgraded Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a report on Wednesday, May 6th. DA Davidson raised Palantir Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $165.00 to $175.00 in a research note on Thursday, July 2nd. Wolfe Research raised Palantir Technologies from an "underperform" rating to a "peer perform" rating in a report on Tuesday, June 16th. Finally, Citigroup boosted their target price on Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $190.85.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 397,744 shares of Palantir Technologies stock in a transaction dated 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 completion of the sale, the insider owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction of $2,674,818.48. Following the completion of the transaction, the insider directly owned 199,759 shares of the company's stock, valued at $27,175,214.36. The trade was a 8.96% 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. Over the last 90 days, insiders sold 1,112,270 shares of company stock valued at $150,247,785. Company insiders own 9.53% of the company's stock.

About Palantir Technologies

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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