Parker Investment Management LLC Reduces Holdings in Palantir Technologies Inc. $PLTR

Parker Investment Management LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 12.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 64,809 shares of the company’s stock after selling 9,294 shares during the quarter. Palantir Technologies accounts for about 1.6% of Parker Investment Management LLC’s portfolio, making the stock its 11th largest position. Parker Investment Management LLC’s holdings in Palantir Technologies were worth $11,520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Piedmont Capital Management LLC NC bought a new stake in shares of Palantir Technologies in the fourth quarter worth $300,000. Resources Management Corp CT ADV increased its stake in Palantir Technologies by 66.7% during the fourth quarter. Resources Management Corp CT ADV now owns 1,000 shares of the company’s stock valued at $178,000 after purchasing an additional 400 shares during the last quarter. Sands Capital Management LLC acquired a new position in shares of Palantir Technologies during the fourth quarter valued at $3,527,000. Mosaic Financial Group LLC acquired a new position in shares of Palantir Technologies during the fourth quarter valued at $232,000. Finally, Mufg Securities Americas Inc. lifted its holdings in Palantir Technologies by 0.3% in the fourth quarter. Mufg Securities Americas Inc. now owns 61,541 shares of the company’s stock worth $10,939,000 after purchasing an additional 213 shares during the period. Institutional investors own 45.65% of the company’s stock.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $90.00 price objective on shares of Palantir Technologies in a report on Tuesday, May 5th. Argus upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Wednesday, May 6th. Weiss Ratings downgraded Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and dropped their target price for the company from $205.00 to $151.00 in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated 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 transaction, the insider directly owned 592 shares of the company’s stock, valued at $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. The transaction 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 David A. Glazer sold 17,128 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the transaction, the insider owned 375,242 shares in the company, valued at approximately $51,047,921.68. This trade represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 925,789 shares of company stock valued at $126,007,032. 9.53% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

PLTR opened at $127.99 on Monday. Palantir Technologies Inc. has a 1-year low of $122.68 and a 1-year high of $207.52. The stock has a market capitalization of $306.83 billion, a price-to-earnings ratio of 143.81, a P/E/G ratio of 2.03 and a beta of 1.53. The business has a 50 day moving average of $139.54 and a 200-day moving average of $153.70.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.Palantir Technologies’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current year.

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.