Nicholas Wealth LLC. Sells 6,138 Shares of Palantir Technologies Inc. $PLTR

Nicholas Wealth LLC. decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 41.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,793 shares of the company’s stock after selling 6,138 shares during the quarter. Palantir Technologies comprises 1.0% of Nicholas Wealth LLC.’s portfolio, making the stock its 17th biggest holding. Nicholas Wealth LLC.’s holdings in Palantir Technologies were worth $1,563,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PLTR. Norges Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $5,149,641,000. State Street Corp lifted its position in shares of Palantir Technologies by 7.2% in the third 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 in the last quarter. Cardano Risk Management B.V. lifted its position in shares of Palantir Technologies by 917.4% in the fourth 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 in the last quarter. Amundi lifted its position in shares of Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company’s stock worth $2,814,879,000 after buying an additional 4,373,201 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Palantir Technologies by 637.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,459,068 shares of the company’s stock worth $792,610,000 after buying an additional 3,854,452 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PLTR shares. Argus upgraded 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. BTIG Research downgraded Palantir Technologies to a “neutral” rating in a research report on Tuesday. Oppenheimer started coverage on Palantir Technologies in a research report on Thursday, April 30th. They issued an “outperform” rating and a $200.00 target price on the stock. Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, DZ Bank started coverage on Palantir Technologies in a research report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Wolfe Research upgraded Palantir Technologies (PLTR) to Peer Perform/Hold, signaling that analysts see less downside risk and still view the company as a major AI enterprise player. This Analyst Just Upgraded Palantir Stock. Here’s Why.
• Positive Sentiment: Coverage around Palantir’s recent AI partnerships and customer deployments at AIPCon 10 continues to support the bullish long-term AI-growth narrative. Will New AI Partnerships And Governance Votes At AIPCon 10 Change Palantir Technologies’ (PLTR) Narrative
• Neutral Sentiment: Some commentary says Palantir remains a leading enterprise AI software provider, but investors are still debating whether the stock’s recent pullback has made the valuation more reasonable. Palantir Technologies (PLTR) Stock Could Be 25.9% Overvalued After AI Rally
• Neutral Sentiment: Insider selling by Jeffrey Buckley was disclosed, but it was a small sale executed under a pre-arranged 10b5-1 plan, so it is more of a sentiment signal than a major fundamental change. Jeffrey Buckley Sells 1,481 Shares of Palantir Technologies (NASDAQ:PLTR) Stock
• Negative Sentiment: France’s domestic spy agency is reportedly dropping Palantir in favor of a local rival, adding to concerns that European governments may prefer domestic providers for sensitive data projects. French domestic spy agency ditches Palantir for local rival, PM says
• Negative Sentiment: Palantir also lost a Swiss legal challenge tied to government contract scrutiny and data-sovereignty issues, reinforcing regulatory and political risk in Europe. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe
• Negative Sentiment: Analyst commentary also points to Palantir’s still-stretched valuation, which is limiting upside even after the company’s strong AI momentum and recent upgrades. There’s a Catch,’ Says Top Analyst About Palantir (PLTR) Stock

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $255,680.00. Following the sale, the director directly owned 55,022 shares in the company, valued at $8,803,520. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,481 shares of the company’s stock in a transaction that occurred 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 approximately $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 927,270 shares of company stock valued at $126,197,785. Corporate insiders own 9.53% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $133.25 on Wednesday. Palantir Technologies Inc. has a 1 year low of $122.68 and a 1 year high of $207.52. The stock’s 50 day simple moving average is $138.96 and its two-hundred day simple moving average is $153.27. The company has a market cap of $319.44 billion, a PE ratio of 149.72, a price-to-earnings-growth ratio of 2.14 and a beta of 1.53.

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

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.