Empowered Funds LLC Trims Stake in Palantir Technologies Inc. $PLTR

Empowered Funds LLC lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 28.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 205,588 shares of the company’s stock after selling 83,497 shares during the quarter. Empowered Funds LLC’s holdings in Palantir Technologies were worth $30,073,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after acquiring an additional 1,557,828 shares during the last quarter. State Street Corp raised its holdings in Palantir Technologies by 1.1% in the 4th quarter. State Street Corp now owns 102,385,317 shares of the company’s stock valued at $18,198,990,000 after acquiring an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC raised its holdings in Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after acquiring an additional 805,047 shares during the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter worth $5,149,641,000. Finally, Invesco Ltd. lifted its stake in shares of Palantir Technologies by 2.8% during the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock worth $3,984,281,000 after purchasing an additional 616,297 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $131.53 on Tuesday. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52. The company has a market capitalization of $315.32 billion, a price-to-earnings ratio of 147.79, a price-to-earnings-growth ratio of 1.96 and a beta of 1.56. The firm’s fifty day moving average price is $131.48 and its 200 day moving average price is $141.99.

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 analysts’ consensus estimates 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 net margin of 43.67% and a return on equity of 28.34%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 EPS. Analysts forecast that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Palantir Technologies News Roundup

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

• Positive Sentiment: Oppenheimer maintained its bullish outlook, reiterating an Outperform rating and a $200 price target. The firm expects Palantir to deliver a solid second-quarter earnings beat and potentially raise its outlook, with revenue growth of roughly 85% supporting the case. Oppenheimer Lays Out Expectations for Palantir Stock Ahead of August 3 Earnings
• Positive Sentiment: Strong operating momentum is attracting buyers ahead of the August 3 earnings release. Recent results showed revenue growth above 80%, while analysts and bullish commentators believe commercial adoption of Palantir’s AI platform could support another meaningful beat. Several published price targets remain well above the current trading level, including Oppenheimer’s $200 target. Palantir Stock Surges as Oppenheimer Predicts Strong Q2 Earnings Beat
• Positive Sentiment: Palantir’s AI infrastructure and software positioning remains a long-term catalyst. Commentary contrasting Palantir with hardware-focused technology companies suggests that continued spending on AI infrastructure could increase demand for the software and operating systems that run on top of it. IBM Fell 25% as Hardware Spending Dominated AI Budgets

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PLTR. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price target on shares of Palantir Technologies in a research note on Friday, June 5th. Citigroup dropped their price objective on shares of Palantir Technologies from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank Of Canada reiterated an “underperform” rating and set a $90.00 price objective on shares of Palantir Technologies in a report on Tuesday, May 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Palantir Technologies in a research report on Friday. Finally, Wedbush assumed coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $189.88.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 17,128 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares of the company’s stock, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the firm’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 value of $2,674,818.48. Following the sale, the insider owned 199,759 shares of the company’s stock, valued at approximately $27,175,214.36. This trade represents a 8.96% 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 have sold a total of 1,112,270 shares of company stock valued at $150,247,785 in the last three months. 9.53% of the stock is currently owned by company insiders.

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.