Manchester Financial Inc. Reduces Stock Holdings in Palantir Technologies Inc. $PLTR

Manchester Financial Inc. reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 24.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,001 shares of the company’s stock after selling 4,586 shares during the period. Manchester Financial Inc.’s holdings in Palantir Technologies were worth $1,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $29,000. Ballast Advisors LLC purchased a new position in shares of Palantir Technologies in the 1st quarter valued at approximately $29,000. Morton Brown Family Wealth LLC raised its position 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 purchasing an additional 125 shares during the last quarter. Cornerstone Financial Management LLC acquired a new stake in Palantir Technologies in the 4th quarter worth approximately $31,000. Finally, Whipplewood Advisors LLC acquired a new stake in Palantir Technologies in the 1st quarter worth approximately $32,000. 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. Argus upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research note on Wednesday, May 6th. Zacks Research raised shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Phillip Securities lifted their price objective on shares of Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. DZ Bank assumed coverage on shares of Palantir Technologies in a report on Thursday, April 23rd. They set a “buy” rating and a $175.00 price objective on the stock. Finally, Oppenheimer downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $192.19.

Palantir Technologies News Roundup

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

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

Palantir Technologies Stock Down 2.8%

Shares of NASDAQ PLTR opened at $174.04 on Friday. The business’s 50 day moving average price is $134.60 and its 200 day moving average price is $140.15. The firm has a market cap of $418.23 billion, a P/E ratio of 148.75, a P/E/G ratio of 2.48 and a beta of 1.59. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm posted $0.16 EPS. Palantir Technologies’s revenue for the quarter was up 92.8% compared to the same quarter last year. As a group, research analysts expect that Palantir Technologies Inc. will post 1.26 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Jeffrey Buckley sold 1,481 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the sale, the insider owned 60,226 shares in the company, valued at $7,757,108.80. This represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider directly owned 592 shares of the company’s stock, valued at approximately $80,535.68. This trade represents a 99.82% 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. Insiders sold 1,150,302 shares of company stock valued at $156,197,565 over the last quarter. Insiders own 9.53% of the company’s stock.

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.