Palantir Technologies Inc. $PLTR Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.5% in the second quarter, Holdings Channel reports. The fund owned 126,930 shares of the company’s stock after selling 3,244 shares during the period. Hartford Investment Management Co.’s holdings in Palantir Technologies were worth $14,809,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC raised its holdings in shares of Palantir Technologies by 1.2% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 5,297 shares of the company’s stock valued at $966,000 after purchasing an additional 65 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Palantir Technologies by 0.4% during the 4th quarter. Verdence Capital Advisors LLC now owns 17,574 shares of the company’s stock worth $3,124,000 after purchasing an additional 67 shares during the last quarter. Financial Partners Group Inc grew its stake in shares of Palantir Technologies by 1.8% during the fourth quarter. Financial Partners Group Inc now owns 3,802 shares of the company’s stock worth $676,000 after purchasing an additional 68 shares in the last quarter. LifeSteps Financial Inc. grew its stake in shares of Palantir Technologies by 4.9% during the first quarter. LifeSteps Financial Inc. now owns 1,482 shares of the company’s stock worth $217,000 after purchasing an additional 69 shares in the last quarter. Finally, IFC & Insurance Marketing Inc. grew its stake in shares of Palantir Technologies by 4.0% during the first quarter. IFC & Insurance Marketing Inc. now owns 1,806 shares of the company’s stock worth $264,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $174.04 on Friday. The company’s fifty day moving average price is $134.60 and its 200 day moving average price is $140.15. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $207.52. The firm has a market capitalization of $417.23 billion, a P/E ratio of 148.75, a P/E/G ratio of 2.55 and a beta of 1.59.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the previous year, the company earned $0.16 earnings per share. Palantir Technologies’s quarterly revenue was up 92.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 1.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PLTR shares. The Goldman Sachs Group restated a “neutral” rating and issued a $204.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 4th. Wolfe Research started coverage on Palantir Technologies in a research report on Tuesday, August 4th. They set a “buy” rating for the company. Needham & Company LLC set a $215.00 price objective on Palantir Technologies in a report on Tuesday. Cantor Fitzgerald started coverage on Palantir Technologies in a research report on Tuesday, August 4th. They set an “overweight” rating on the stock. Finally, Oppenheimer lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.19.

Palantir Technologies News Roundup

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

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

Insider Transactions at Palantir Technologies

In related news, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $128.80, for a total transaction of $190,752.80. Following the transaction, the insider owned 60,226 shares in the company, valued at $7,757,108.80. This trade represents a 2.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 Palantir Technologies 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 transaction, 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. Insiders have sold a total of 1,150,302 shares of company stock worth $156,197,565 over the last three months. 9.53% of the stock is currently owned by company insiders.

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.