Thrivent Financial for Lutherans decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,209,935 shares of the company’s stock after selling 13,771 shares during the period. Thrivent Financial for Lutherans’ holdings in Palantir Technologies were worth $215,139,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PLTR. Bare Financial Services Inc raised its stake in Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. Morton Brown Family Wealth LLC raised its stake in 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 purchasing an additional 125 shares during the period. Flagship Wealth Advisors LLC purchased a new position in Palantir Technologies during the third quarter worth approximately $32,000. United Financial Planning Group LLC purchased a new position in Palantir Technologies during the third quarter worth approximately $32,000. Finally, Clayton Financial Group LLC raised its stake in Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.
Key Stories Impacting Palantir Technologies
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)
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on PLTR
Insiders Place Their Bets
In other news, insider Alexander C. Karp sold 493,025 shares of the firm’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 transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $860,507,475.24. This trade represents a 7.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 168,004 shares of the firm’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 directly owned 642,786 shares in the company, valued at approximately $85,953,343.92. This represents a 20.72% decrease in their position. The SEC filing for this sale provides additional information. 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 owned by company insiders.
Palantir Technologies Trading Up 2.8%
Shares of PLTR stock opened at $133.73 on Friday. The company’s fifty day simple moving average is $145.01 and its 200-day simple moving average is $159.97. Palantir Technologies Inc. has a 52 week low of $118.93 and a 52 week high of $207.52. The company has a market cap of $320.59 billion, a PE ratio of 150.26, a P/E/G 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 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm posted $0.13 EPS. The business’s revenue for the quarter 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 fiscal 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.
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