Illinois Municipal Retirement Fund reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 30.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 102,735 shares of the company’s stock after selling 45,887 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Palantir Technologies were worth $18,261,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc increased its position in Palantir Technologies by 54.5% in the 3rd 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 last quarter. Basepoint Wealth LLC bought a new stake in shares of Palantir Technologies during the 4th quarter worth about $29,000. United Financial Planning Group LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth about $32,000. Morton Brown Family Wealth LLC boosted its stake in shares of 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. Finally, Clayton Financial Group LLC boosted its stake in shares of 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 institutional investors and hedge funds.
More Palantir Technologies News
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Management continues to showcase demand for Palantir’s AI platform, with the company highlighting customer adoption at AIPCon and announcing new enterprise partnerships, including a multi-year AI deal with McCarthy Building Companies and an AI-powered platform with Kirkland & Ellis. These updates reinforce the bull case that PLTR is becoming a core enterprise AI layer. Palantir’s AIPCon Shows Why Customers Are Fueling the Bull Case
- Positive Sentiment: Several analysts and commentators remain constructive, with Rosenblatt reiterating a buy rating and Wedbush maintaining an outperform view. That suggests some Wall Street support remains despite the recent pullback. Rosenblatt Remains a Buy On Palantir Technologies (PLTR)
- Positive Sentiment: CEO Alex Karp’s comments about enterprise customers being frustrated with frontier AI labs like OpenAI and Anthropic may help Palantir position itself as the safer, more enterprise-ready AI alternative. He also highlighted enthusiasm around SpaceX, which keeps Palantir tied to major AI/defense themes. Palantir’s Karp says businesses are ‘unhappy’ with the frontier AI labs
- Neutral Sentiment: The stock remains highly sensitive to AI sentiment and hype-cycle comparisons, with multiple articles debating whether PLTR’s premium valuation is justified after a strong run and sharp pullback. Palantir Stock Has Fallen More Than 35% From Its High. Is This the Pullback Long-Term AI Investors Have Been Waiting For?
- Neutral Sentiment: Michael Burry’s reported short against Palantir is still drawing attention and may be amplifying caution around AI stocks broadly, but it is more a sentiment overhang than a direct business development. Michael Burry’s NVDA, PLTR Shorts Are Paying Off—And More Trouble May Be Coming For AI Stocks
- Negative Sentiment: The biggest drag on PLTR is valuation risk: several recent pieces argue the stock is still expensive even after the selloff, and that earnings are the next key catalyst to prove the growth story can keep up with the multiple. Palantir Stock Has Fallen More Than 35% From Its High. Is This the Pullback Long-Term AI Investors Have Been Waiting For?
- Negative Sentiment: Broader negative headlines around AI competition, including new Anthropic model releases and concerns about frontier-lab economics, are pressuring sentiment across software names and may be contributing to Palantir’s recent decline. Workday, Oracle, and Palantir Technologies Shares Plummet, What You Need To Know
- Negative Sentiment: There is also fresh political/regulatory noise around Palantir’s UK NHS contract review, which could add headline risk if officials move toward using a break clause in 2027. UK reviewing Palantir’s NHS contract amid pressure to use break clause
Palantir Technologies Stock Down 1.4%
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company earned $0.13 EPS. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. Analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current year.
Insider Activity
In related news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the 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 completion of the sale, the director owned 55,022 shares in the company, valued at $8,803,520. This represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider owned 592 shares of the company’s stock, valued at approximately $80,535.68. The trade was a 99.82% 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 925,789 shares of company stock worth $126,007,032 over the last 90 days. Company insiders own 9.53% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on PLTR. DA Davidson decreased 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. Argus upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Wednesday, May 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $138.00 price target on shares of Palantir Technologies in a research note on Friday, May 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price target on shares of Palantir Technologies in a research note on Friday, June 5th. Finally, DZ Bank began coverage on Palantir Technologies in a research note on Thursday, April 23rd. They set a “buy” rating and a $175.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.
Read Our Latest Stock Analysis on Palantir Technologies
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.
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