Waddell & Associates LLC Sells 5,264 Shares of Palantir Technologies Inc. $PLTR

Waddell & Associates LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 64.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,959 shares of the company’s stock after selling 5,264 shares during the period. Waddell & Associates LLC’s holdings in Palantir Technologies were worth $345,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PLTR. Milestone Asset Management LLC grew its stake in shares of Palantir Technologies by 229.5% during the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock worth $10,763,000 after acquiring an additional 42,173 shares during the period. VCI Wealth Management LLC increased its holdings in Palantir Technologies by 42.3% in the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock worth $2,166,000 after acquiring an additional 3,621 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in Palantir Technologies in the 4th quarter valued at about $222,143,000. Vanguard Group Inc. raised its stake in Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after acquiring an additional 1,557,828 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Palantir Technologies by 72.2% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 67,403 shares of the company’s stock valued at $12,113,000 after acquiring an additional 28,256 shares during the period. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLTR shares. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of Palantir Technologies in a research report on Thursday, July 30th. Mizuho boosted their price target on shares of Palantir Technologies from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Phillip Securities upped their price target on shares of Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. Benchmark restated a “hold” rating on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, Wedbush assumed coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an “outperform” rating for the company. Two research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.19.

Palantir Technologies Stock Down 2.8%

NASDAQ:PLTR opened at $174.04 on Friday. The business’s 50-day moving average price is $134.60 and its two-hundred day moving average price is $140.15. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52. The stock has a market cap of $418.23 billion, a P/E ratio of 148.75, a PEG ratio of 2.55 and a beta of 1.59.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total transaction of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares in the company, valued at $7,757,108.80. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 592 shares of the company’s stock, valued at approximately $80,535.68. This 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. Over the last three months, insiders sold 1,150,302 shares of company stock valued at $156,197,565. Company insiders own 9.53% of the company’s stock.

Key Stories Impacting Palantir Technologies

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 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.