Florida Financial Advisors LLC lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 70.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,220 shares of the company’s stock after selling 17,390 shares during the period. Florida Financial Advisors LLC’s holdings in Palantir Technologies were worth $1,056,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in Palantir Technologies during the 4th quarter valued at about $5,149,641,000. Jennison Associates LLC bought a new stake in Palantir Technologies during the first quarter worth about $1,574,111,000. State Street Corp increased its holdings in shares of Palantir Technologies by 7.2% during the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after buying an additional 6,777,771 shares in the last quarter. Cardano Risk Management B.V. increased its holdings in shares of Palantir Technologies by 917.4% during the fourth quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock worth $1,170,596,000 after buying an additional 5,938,343 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of Palantir Technologies by 1,449.7% in the fourth quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company’s stock valued at $937,205,000 after acquiring an additional 4,932,364 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.
Key Palantir Technologies News
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Several articles argue Palantir’s long-term growth case remains intact, pointing to its expanding AI software footprint and the strength of its AIP platform. Palantir: The Stock Is Richly Valued With a Forward P/S Multiple of Over 40x, but Is the Growth Story Still Worth Buying Into?
- Positive Sentiment: Commentary from top investors and market watchers says Palantir’s business momentum and product expansion could support further gains despite the stock’s premium valuation. It’s Not Crazy, Says Top Investor About Palantir Stock
- Positive Sentiment: Another piece says Palantir keeps defying skeptics with a string of earnings beats and a raised outlook, reinforcing the idea that fundamentals are still improving. Predicition: Palantir Defies Doubters. Here’s Our New Price Target
- Neutral Sentiment: Palantir is also being widely searched and discussed, which shows elevated investor interest but does not by itself change the outlook.
- Neutral Sentiment: Several articles revisit the stock’s big run from its IPO and its recent pullback, keeping focus on valuation and volatility rather than any new company-specific catalyst.
Palantir Technologies Price Performance
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business earned $0.13 EPS. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, sell-side analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. BTIG Research downgraded Palantir Technologies to a “neutral” rating in a report on Tuesday, June 16th. Argus raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Wednesday, May 6th. DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Palantir Technologies in a research note on Friday. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a research note on Friday, June 5th. Finally, Oppenheimer assumed coverage on Palantir Technologies in a report on Thursday, April 30th. They issued an “outperform” rating and a $200.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $190.85.
Read Our Latest Research Report on PLTR
Insider Buying and Selling
In other news, insider Stephen Andrew Cohen sold 319,934 shares of the business’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 $43,523,821.36. Following the completion of the sale, the insider owned 592 shares in the company, valued at $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.00, for a total value of $255,680.00. Following the sale, the director directly owned 55,022 shares of the company’s stock, valued at $8,803,520. This represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is currently owned by company insiders.
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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