Rep. Gilbert Ray Cisneros, Jr. Sells Off Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Rep. Gilbert Ray Cisneros, Jr. disclosed selling $1,001 to $15,000 of Palantir stock on May 8, reported in a filing on June 8. The trade was made through his “150 MAIN STREET TRUST > BANK OF AMERICA” account.
• Palantir shares fell 1.4% to $130.21 in midday trading, with the stock still well below its 52-week high of $207.52. Even so, the company remains a large-cap name with a market value of about $312 billion.
• Palantir’s latest earnings showed strong growth, with Q1 revenue up 84.7% year over year and EPS of $0.33 beating estimates. Analyst sentiment is mixed to positive, with a consensus rating of Moderate Buy, though valuation concerns continue to weigh on the stock.

Representative Gilbert Ray Cisneros, Jr. (Democratic-California) recently sold shares of Palantir Technologies Inc. (NASDAQ:PLTR). In a filing disclosed on June 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Palantir Technologies stock on May 8th. The trade occurred in the Representative's "150 MAIN STREET TRUST > BANK OF AMERICA" account.

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of SoftBank Group OTCMKTS: SFTBF on 6/2/2026.
• Purchased $1,001 - $15,000 in shares of Ciena NYSE: CIEN on 5/29/2026.
• Sold $1,001 - $15,000 in shares of AutoZone NYSE: AZO on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Independent Bank NASDAQ: INDB on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Arcutis Biotherapeutics NASDAQ: ARQT on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of HealthEquity NASDAQ: HQY on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Boston Scientific NYSE: BSX on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Perella Weinberg Partners NASDAQ: PWP on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Cooper Companies NASDAQ: COO on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Ligand Pharmaceuticals NASDAQ: LGND on 5/29/2026.

Palantir Technologies Stock Down 1.4%

NASDAQ:PLTR traded down $1.86 during mid-day trading on Wednesday, reaching $130.21. 30,298,465 shares of the stock were exchanged, compared to its average volume of 47,858,488. The company has a 50 day simple moving average of $140.36 and a 200-day simple moving average of $154.29. The stock has a market capitalization of $312.15 billion, a P/E ratio of 146.31, a P/E/G ratio of 2.17 and a beta of 1.53. Palantir Technologies Inc. has a 1 year low of $122.68 and a 1 year high of $207.52.

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, topping analysts' consensus estimates 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 firm's quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir’s AIPCon and related coverage highlighted continued customer adoption of its AI platform, including new enterprise use cases such as a multi-year AI partnership with McCarthy Building Companies and a platform launch with Kirkland & Ellis. Article Title
• Positive Sentiment: Several analysts remained constructive, including Rosenblatt reiterating a Buy rating and Wedbush keeping an Outperform view, suggesting some Wall Street support despite the pullback. Article Title
• Neutral Sentiment: CEO Alex Karp used media appearances to argue that enterprise customers are frustrated with frontier AI labs and are looking for practical AI systems that control costs and deliver business value, reinforcing Palantir’s enterprise AI pitch. Article Title
• Neutral Sentiment: Coverage of Michael Burry’s short position, plus broader commentary questioning whether Palantir’s valuation is too rich, is adding to debate around the stock’s premium despite strong fundamentals. Article Title
• Negative Sentiment: Investors continue to focus on Palantir’s high valuation, with articles noting the stock has fallen significantly from its highs and may still face a multiple problem even as revenue growth remains strong. Article Title
• Negative Sentiment: Broader AI-sector weakness and competitive headlines, including concern that Anthropic and other labs are advancing quickly, have weighed on sentiment across AI stocks including PLTR. Article Title
• Negative Sentiment: Reuters reported that the UK is reviewing Palantir’s NHS contract amid political pressure, which could create uncertainty around a meaningful government relationship. Article Title

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of Palantir Technologies in a research note on Friday, June 5th. DA Davidson lowered their target price on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 5th. DZ Bank assumed coverage on Palantir Technologies in a research note on Thursday, April 23rd. They issued a "buy" rating and a $175.00 target price on the stock. Citigroup lifted their target price on Palantir Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded 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, seventeen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $192.76.

Institutional Trading of Palantir Technologies

Several hedge funds have recently modified their holdings of PLTR. Bare Financial Services Inc lifted its holdings in shares of Palantir Technologies by 54.5% in the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company's stock valued at $28,000 after buying an additional 55 shares during the period. Basepoint Wealth LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Palantir Technologies by 250.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after buying an additional 125 shares during the period. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $31,000. Finally, United Financial Planning Group LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $32,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 397,744 shares of Palantir Technologies stock in a transaction 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 completion of the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 830 shares of Palantir Technologies stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $137.41, for a total value of $114,050.30. Following the transaction, the insider directly owned 61,707 shares of the company's stock, valued at approximately $8,479,158.87. This represents a 1.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 925,789 shares of company stock worth $126,007,032. Corporate insiders own 9.53% of the company's stock.

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California's 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California's 31st Congressional District. He declared candidacy for the 2026 election. Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor's degree in political science from George Washington University in 1994, a master's in business administration from Regis University in 2002, and a master's degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

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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