Destination Wealth Management Raises Stock Holdings in Palantir Technologies Inc. $PLTR

Destination Wealth Management increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 70.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 29,439 shares of the company’s stock after purchasing an additional 12,164 shares during the period. Destination Wealth Management’s holdings in Palantir Technologies were worth $5,233,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PLTR. Revolve Wealth Partners LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth $450,000. Bison Wealth LLC increased its stake in shares of Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after buying an additional 4,667 shares during the period. Capstone Wealth Management Group LLC increased its stake in shares of Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after buying an additional 4,722 shares during the period. Schnieders Capital Management LLC. increased its stake in shares of Palantir Technologies by 36.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock worth $858,000 after buying an additional 1,694 shares during the period. Finally, Vivaldi Capital Management LP purchased a new position in shares of Palantir Technologies in the second quarter worth $315,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $160.00, for a total transaction of $255,680.00. Following the sale, the director owned 55,022 shares in the company, valued at approximately $8,803,520. The trade was a 2.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 165,514 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the sale, the insider owned 642,786 shares in the company, valued at approximately $87,444,607.44. This trade represents a 20.48% 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 quarter, insiders have sold 925,789 shares of company stock worth $126,007,032. 9.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on PLTR shares. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the company from $205.00 to $151.00 in a research report on Friday, May 1st. Benchmark started coverage on shares of Palantir Technologies in a research report on Wednesday, April 1st. They set a “hold” rating on the stock. Citigroup boosted their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada reissued an “underperform” rating and set a $90.00 price objective on shares of Palantir Technologies in a research report on Tuesday, May 5th. Finally, DA Davidson reduced their price objective on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Palantir Technologies Trading Down 2.4%

Shares of Palantir Technologies stock opened at $127.99 on Friday. The company’s fifty day simple moving average is $139.54 and its two-hundred day simple moving average is $153.76. The company has a market cap of $306.83 billion, a P/E ratio of 143.81, a PEG ratio of 2.03 and a beta of 1.53. Palantir Technologies Inc. has a 12-month low of $122.68 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm earned $0.13 EPS. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. Analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR’s Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Palantir Technologies Company 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.