Pacer Advisors Inc. Lowers Stock Position in Palantir Technologies Inc. $PLTR

Pacer Advisors Inc. trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 40.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 533,324 shares of the company’s stock after selling 364,761 shares during the quarter. Pacer Advisors Inc.’s holdings in Palantir Technologies were worth $94,798,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bare Financial Services Inc increased its stake in Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. Basepoint Wealth LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $29,000. Morton Brown Family Wealth LLC grew its holdings in shares of Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth about $31,000. Finally, United Financial Planning Group LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies News Roundup

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

• Positive Sentiment: Wolfe Research upgraded Palantir to Peer Perform from Underperform, citing its AI platform, ontology, and forward-deployed engineers as a strong foundation for enterprise AI growth. Is Palantir Technologies Inc. (PLTR) Becoming the Face of Applied Enterprise AI?
• Positive Sentiment: Recent commentary continues to highlight accelerating U.S. commercial momentum, including rising revenue, more customers, and larger contract wins tied to Palantir’s AIP platform. Palantir’s AIP Momentum Continues to Transform U.S. Commercial Growth
• Positive Sentiment: Some analysts argue Palantir’s rapid growth and strong margins make it hard to ignore, despite valuation concerns, keeping bullish AI sentiment intact. Why This Analyst Says Palantir Stock Is ‘Too Big to Ignore’

Insider Activity

In related news, insider Shyam Sankar sold 165,514 shares of the company’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 $22,516,524.56. Following the transaction, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares of the company’s stock, valued at $51,047,921.68. The trade was a 4.37% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 927,270 shares of company stock valued at $126,197,785 over the last three months. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Down 1.7%

Shares of PLTR opened at $128.47 on Friday. The stock’s 50 day moving average is $138.18 and its two-hundred day moving average is $152.74. Palantir Technologies Inc. has a twelve month low of $122.68 and a twelve month high of $207.52. The firm has a market capitalization of $307.98 billion, a PE ratio of 144.35, a P/E/G ratio of 2.07 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last issued its 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 business had revenue of $1.63 billion during 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 company’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. On average, sell-side analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $90.00 price objective on shares of Palantir Technologies in a research note on Tuesday, May 5th. DA Davidson cut their price target on Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Wedbush began coverage on Palantir Technologies in a report on Tuesday. They set an “outperform” 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 on the stock in a research report on Tuesday, April 14th. Finally, Citigroup lifted their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

About Palantir Technologies

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.