Palantir Technologies Inc. $PLTR Shares Sold by Forum Financial Management LP

Forum Financial Management LP lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 9.5% in the first quarter, Holdings Channel reports. The institutional investor owned 139,136 shares of the company’s stock after selling 14,619 shares during the quarter. Palantir Technologies accounts for about 0.3% of Forum Financial Management LP’s portfolio, making the stock its 21st largest position. Forum Financial Management LP’s holdings in Palantir Technologies were worth $20,353,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter worth $5,149,641,000. State Street Corp raised its stake in shares of Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after purchasing an additional 6,777,771 shares in the last quarter. Cardano Risk Management B.V. raised its stake in shares of Palantir Technologies by 917.4% in the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock valued at $1,170,596,000 after purchasing an additional 5,938,343 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Palantir Technologies by 1,449.7% during the fourth quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company’s stock worth $937,205,000 after purchasing an additional 4,932,364 shares during the last quarter. Finally, Amundi lifted its position in shares of Palantir Technologies by 38.7% during the third quarter. Amundi now owns 15,679,158 shares of the company’s stock worth $2,814,879,000 after purchasing an additional 4,373,201 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Palantir announced a strategic partnership with Nvidia to run AI and Nemotron models in secure government and critical-infrastructure environments, boosting its sovereign AI growth narrative. Palantir Launches Engine for Deploying NVIDIA Nemotron Open Models in Sovereign Environments
• Positive Sentiment: Reports that Japan could use Palantir’s Maven Smart System added another potential international government-use case for its AI software. Japan considers using Palantir’s Maven Smart System
• Positive Sentiment: Several articles highlighted that Palantir’s recent selloff may have made the stock more attractive, while buying from Ark Invest and upbeat analyst commentary provided extra support. Cathie Wood Is Backing the Truck Up on Palantir Stock. Is She Finally Right?

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PLTR shares. Benchmark downgraded Palantir Technologies to a “hold” rating in a research note on Tuesday, June 16th. Argus raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Wednesday, May 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a research report on Friday, June 5th. DZ Bank initiated coverage on Palantir Technologies in a report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price target for the company. Finally, Oppenheimer began coverage on Palantir Technologies in a research report on Thursday, April 30th. They set an “outperform” rating and a $200.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.46.

Palantir Technologies Stock Up 2.4%

Shares of NASDAQ:PLTR opened at $115.67 on Tuesday. The company has a market cap of $277.30 billion, a PE ratio of 129.97, a P/E/G ratio of 1.82 and a beta of 1.53. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The firm has a 50-day simple moving average of $135.42 and a 200 day simple moving average of $149.76.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company posted $0.13 earnings per share. Palantir Technologies’s revenue was up 84.7% on a year-over-year basis. As a group, research analysts forecast that Palantir Technologies Inc. will post 1.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other 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 sale, the director directly owned 55,022 shares in the company, valued at approximately $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 can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $43,523,821.36. Following the completion of the sale, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. This trade represents a 99.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 927,270 shares of company stock worth $126,197,785. Corporate insiders own 9.53% of the company’s stock.

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.