SkyOak Wealth LLC increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 169.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,399 shares of the company’s stock after purchasing an additional 4,025 shares during the period. SkyOak Wealth LLC’s holdings in Palantir Technologies were worth $1,137,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in PLTR. Bare Financial Services Inc increased its stake in Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the period. Morton Brown Family Wealth LLC grew its holdings in Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $32,000. United Financial Planning Group LLC acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $32,000. Finally, Clayton Financial Group LLC grew its holdings in Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $205.00 to $151.00 in a report on Friday, May 1st. Citigroup boosted their price target on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. DA Davidson lowered their price target on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Zacks Research upgraded shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $200.00 price target on shares of Palantir Technologies in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.
More Palantir Technologies News
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Analyst optimism remains a tailwind, with Freedom Broker reportedly raising its price target on Palantir to $230 and reiterating a Buy rating after the company’s strong Q1 results. Freedom Broker Lifts Palantir (PLTR) Price Target After Strong Results
- Positive Sentiment: Multiple pieces argue the post-earnings selloff may be overdone, citing Palantir’s rapid revenue growth, expanding commercial adoption, and the view that the AI boom is still early in its cycle. Ignore the Post-Earnings Selloff in Palantir Stock: The AI Revolution Is Just in the ‘Third Inning’
- Positive Sentiment: Palantir’s defense and autonomy ecosystem is also in focus after partner Ondas reported explosive revenue growth and raised guidance, which helps validate Palantir’s presence in fast-growing defense-tech use cases. Palantir-Backed Ondas Stock Soars. Autonomous Drone Company Sees Revenue Grow 1,065%.
- Positive Sentiment: Palantir also got a boost from news that its AI capabilities may be further leveraged in Ukraine’s war effort, reinforcing the company’s strategic relevance in defense and government contracts. Ukraine Will Leverage Palantir’s AI Capabilities In Its War With Russia. This Helps Prove PLTR Stock Will Never Be Irrelevant.
- Neutral Sentiment: Some headlines are highlighting heavier retail selling, insider selling, and valuation concerns, suggesting part of the market still sees PLTR as expensive after its big run. Retail traders are trimming holdings of longtime AI favorite Palantir in a pivot from software stocks
- Neutral Sentiment: Other coverage notes that Google’s expanded DoD AI contract could increase competition for government AI spending, which may pressure sentiment around Palantir’s long-term growth runway. Why Palantir Suddenly Looks Vulnerable After Google’s Move (PLTR)
Palantir Technologies Trading Up 2.8%
Shares of Palantir Technologies stock opened at $133.73 on Friday. The company has a fifty day simple moving average of $145.01 and a 200-day simple moving average of $159.97. Palantir Technologies Inc. has a 12-month low of $118.93 and a 12-month high of $207.52. The stock has a market cap of $320.59 billion, a price-to-earnings ratio of 150.26, a PEG ratio of 2.06 and a beta of 1.52.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Alexander C. Karp sold 493,025 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.78, for a total value of $65,956,884.50. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $860,507,475.24. This represents a 7.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 168,004 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $22,465,494.88. Following the completion of the transaction, the insider owned 642,786 shares of the company’s stock, valued at approximately $85,953,343.92. The trade was a 20.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,029,479 shares of company stock worth $137,685,797. 9.53% of the stock is currently owned by company 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.
Read More
- Five stocks we like better than Palantir Technologies
- YETI Rallies After Earnings Beat and Raised Outlook
- How the 3 Leading Quantum Firms Stack Up After Q1 Earnings
- Cisco’s Vertical Rally May Still Be in the Early Innings
- Amazon vs. Alibaba: One Is Clearly The Better Value Play right Now
Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR – Free Report).
Receive News & Ratings for Palantir Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palantir Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
