Draper Asset Management LLC Invests $1.44 Million in Palantir Technologies Inc. $PLTR

Draper Asset Management LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, HoldingsChannel.com reports. The fund purchased 9,832 shares of the company’s stock, valued at approximately $1,438,000. Palantir Technologies makes up about 0.8% of Draper Asset Management LLC’s investment portfolio, making the stock its 17th biggest position.

Several other large investors have also bought and sold shares of PLTR. Milestone Asset Management LLC grew its stake in shares of Palantir Technologies by 229.5% during the fourth quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock worth $10,763,000 after purchasing an additional 42,173 shares during the period. VCI Wealth Management LLC lifted its stake in Palantir Technologies by 42.3% in the fourth quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock valued at $2,166,000 after buying an additional 3,621 shares during the period. Vanguard Group Inc. lifted its stake in Palantir Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after buying an additional 1,557,828 shares during the period. PFA Pension Forsikringsaktieselskab bought a new position in Palantir Technologies during the fourth quarter worth about $222,143,000. Finally, Jefferson Bridge Capital LLC bought a new position in Palantir Technologies during the fourth quarter worth about $1,322,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on PLTR. DA Davidson decreased their target price on Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Mizuho cut their price target on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Wednesday, May 6th. BTIG Research cut shares of Palantir Technologies to a “neutral” rating in a report on Tuesday, June 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $138.00 target price on shares of Palantir Technologies in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 17,128 shares of Palantir Technologies 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 $2,330,093.12. Following the transaction, the insider owned 375,242 shares of the company’s stock, valued at approximately $51,047,921.68. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 owned 592 shares of the company’s stock, valued at $80,535.68. This trade represents 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 sold 927,270 shares of company stock worth $126,197,785 in the last three months. 9.53% of the stock is owned by corporate insiders.

Palantir Technologies News Summary

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Several articles highlighted that Wall Street analysts and bullish investors still see upside in Palantir, citing its rapid revenue growth, strong recent quarterly results, and expanding role in enterprise AI adoption. Article Title
• Positive Sentiment: Palantir’s new partnership with Zeta Global was described as validation for its AI platform and a sign that its technology is gaining traction in enterprise marketing infrastructure. Article Title
• Neutral Sentiment: Some coverage framed the recent selloff as a valuation reset after a huge prior run, arguing that while Palantir remains expensive, the pullback may be making the stock more attractive for long-term investors. Article Title
• Neutral Sentiment: Other pieces repeated the long-term growth case, noting Palantir’s strong revenue expansion and AI-driven positioning, but these bullish arguments have not been enough to stop the decline. Article Title
• Negative Sentiment: The main driver of the stock weakness appears to be concerns about Palantir’s stretched valuation, profit-taking in AI stocks, and a broader rotation away from software names toward AI hardware and chipmakers. Article Title
• Negative Sentiment: Bearish commentary from Michael Burry and repeated reports of Palantir hitting fresh 52-week lows have reinforced fears that the selloff could continue if sentiment stays weak. Article Title

Palantir Technologies Trading Down 5.5%

NASDAQ:PLTR opened at $107.27 on Friday. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52. The stock has a 50-day moving average price of $136.55 and a two-hundred day moving average price of $150.70. The stock has a market cap of $257.16 billion, a price-to-earnings ratio of 120.53, a PEG ratio of 1.80 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm posted $0.13 earnings per share. Palantir Technologies’s revenue was up 84.7% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

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.