Leeward Financial Partners LLC Increases Stock Holdings in Palantir Technologies Inc. $PLTR

Leeward Financial Partners LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 44.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,776 shares of the company’s stock after buying an additional 6,394 shares during the period. Leeward Financial Partners LLC’s holdings in Palantir Technologies were worth $3,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $5,149,641,000. State Street Corp raised its position in shares of Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after purchasing an additional 6,777,771 shares during the last quarter. Cardano Risk Management B.V. raised its position in shares of Palantir Technologies by 917.4% in the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock valued at $1,170,596,000 after purchasing an additional 5,938,343 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Palantir Technologies by 1,449.7% in the 4th quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company’s stock worth $937,205,000 after purchasing an additional 4,932,364 shares in the last quarter. Finally, Amundi boosted its stake in 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 purchasing an additional 4,373,201 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on PLTR shares. BTIG Research lowered shares of Palantir Technologies to a “neutral” rating in a research note on Tuesday, June 16th. BNP Paribas Exane started coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an “underperform” rating for the company. Mizuho lowered 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. Cantor Fitzgerald reissued a “neutral” rating and set a $138.00 price objective on shares of Palantir Technologies in a report on Friday, May 22nd. Finally, UBS Group raised Palantir Technologies from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have assigned 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.

Palantir Technologies News Roundup

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

• Positive Sentiment: Palantir’s partnership with Zeta Global strengthens the company’s AI growth narrative and adds another enterprise use case for Foundry, which analysts view as validation of Palantir’s platform. Article Title
• Positive Sentiment: Cathie Wood’s ARK Invest bought Palantir shares, a signal that some growth investors still see value in the pullback. Article Title
• Neutral Sentiment: Several articles argue that Palantir’s selloff may have gone too far and that the stock could be a buy for long-term investors, but these are opinion pieces rather than new fundamentals. Article Title
• Negative Sentiment: Sentiment remains weak because Palantir has been sliding toward or hitting new 52-week lows, with reports pointing to AI disruption fears, sector rotation out of software, and valuation concerns as reasons for the decline. Article Title
• Negative Sentiment: Coverage also highlighted competitive and international setbacks, including reports of European customers moving away from Palantir, which may add pressure to the stock. Article Title

Palantir Technologies Stock Down 2.8%

Shares of NASDAQ PLTR opened at $113.47 on Thursday. The business’s 50 day moving average price is $137.11 and its 200 day moving average price is $151.23. The firm has a market cap of $272.03 billion, a P/E ratio of 127.50, a P/E/G ratio of 1.85 and a beta of 1.53. Palantir Technologies Inc. has a 52 week low of $112.25 and a 52 week high of $207.52.

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

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 165,514 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the transaction, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider owned 592 shares of the company’s stock, valued at $80,535.68. This represents a 99.82% 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. Over the last three months, insiders sold 927,270 shares of company stock worth $126,197,785. Company 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.