WealthPLAN Partners LLC Lowers Stock Holdings in Palantir Technologies Inc. $PLTR

WealthPLAN Partners LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 53.7% in the 1st quarter, HoldingsChannel reports. The fund owned 7,326 shares of the company’s stock after selling 8,504 shares during the period. WealthPLAN Partners LLC’s holdings in Palantir Technologies were worth $1,072,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Palantir Technologies in the fourth quarter valued at $5,149,641,000. State Street Corp boosted its stake in Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after buying an additional 6,777,771 shares during the last quarter. Cardano Risk Management B.V. boosted its stake in 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 worth $1,170,596,000 after buying an additional 5,938,343 shares during the last quarter. Corient Private Wealth LLC grew its holdings 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 valued at $937,205,000 after buying an additional 4,932,364 shares during the period. Finally, Amundi grew its holdings in Palantir Technologies by 38.7% in the 3rd quarter. Amundi now owns 15,679,158 shares of the company’s stock valued at $2,814,879,000 after buying an additional 4,373,201 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $134.37 on Wednesday. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52. The company has a market capitalization of $322.13 billion, a price-to-earnings ratio of 150.98, a PEG ratio of 2.12 and a beta of 1.56. The business has a 50-day moving average of $133.27 and a 200-day moving average of $147.37.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results 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. The firm 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%.Palantir Technologies’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. Research analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Key Stories Impacting Palantir Technologies

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

Analysts Set New Price Targets

PLTR has been the topic of several recent analyst reports. Wedbush assumed coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They set an “outperform” rating on the stock. DZ Bank initiated coverage on shares of Palantir Technologies in a report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price for the company. Mizuho dropped their price target on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $90.00 price target on shares of Palantir Technologies in a report on Tuesday, May 5th. Finally, Argus raised 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 research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Moderate Buy” and an average price target of $190.85.

Insider Activity

In other 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 sale, 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 legal filing with the Securities & Exchange Commission, 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 Shyam Sankar sold 35,000 shares of the business’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 completion of the transaction, the insider owned 642,786 shares in the company, valued at approximately $83,562,180. This trade represents a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,112,270 shares of company stock worth $150,247,785 over the last three months. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies 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.