Palantir Technologies Inc. $PLTR Position Trimmed by AXS Investments LLC

AXS Investments LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 48,596 shares of the company’s stock after selling 3,364 shares during the quarter. Palantir Technologies comprises about 4.1% of AXS Investments LLC’s portfolio, making the stock its largest holding. AXS Investments LLC’s holdings in Palantir Technologies were worth $8,638,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. Gallacher Capital Management LLC grew its holdings in shares of Palantir Technologies by 2.2% during the third quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company’s stock valued at $447,000 after buying an additional 53 shares during the last quarter. Bare Financial Services Inc lifted its position in Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. AlphaQuest LLC lifted its position in Palantir Technologies by 15.8% during the third quarter. AlphaQuest LLC now owns 425 shares of the company’s stock valued at $78,000 after purchasing an additional 58 shares during the period. Beaumont Financial Advisors LLC lifted its position in Palantir Technologies by 2.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after purchasing an additional 59 shares during the period. Finally, Transcend Capital Advisors LLC lifted its position in Palantir Technologies by 0.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 17,128 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the transaction, the insider directly owned 375,242 shares of the company’s stock, valued at approximately $51,047,921.68. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 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 transaction of $54,109,093.76. Following the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. 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 922,524 shares of company stock worth $125,501,302. Insiders own 9.53% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $156.54 on Friday. The stock has a market capitalization of $375.27 billion, a price-to-earnings ratio of 175.89, a PEG ratio of 2.48 and a beta of 1.52. The company has a fifty day moving average of $141.70 and a 200 day moving average of $156.13. Palantir Technologies Inc. has a fifty-two week low of $118.93 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 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 business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the company posted $0.13 EPS. The business’s revenue was up 84.7% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Investors are bidding up PLTR after Dell’s blockbuster earnings helped validate Palantir’s AI Factory partnership, reinforcing confidence in enterprise AI spending and lifting software names broadly. PLTR Stock Alert: Why Palantir Is Getting a Boost from Dell Earnings
• Positive Sentiment: Strong demand for AI software is also supporting PLTR, with articles pointing to renewed optimism across the sector after Snowflake’s results and a broader rebound in software stocks. Palantir Stock Is Having Its Best Day in a Year. Software Looks Like a Buy Again.
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside, adding to momentum in the shares.
• Positive Sentiment: Several pieces highlighted improving technicals, including a possible structural bottom and trend reversal, which can attract momentum and algorithmic buyers. Palantir (PLTR) Price Forecast: Structural Bottom Signals Trend Reversal
• Neutral Sentiment: Analyst-related commentary noted upside potential from current price targets and recent earnings estimate revisions, but this is more supportive than a direct stock-moving catalyst. Does Palantir Technologies (PLTR) Have the Potential to Rally 35.91% as Wall Street Analysts Expect?

Analysts Set New Price Targets

PLTR has been the topic of a number of research analyst reports. Benchmark began coverage on shares of Palantir Technologies in a research report on Wednesday, April 1st. They set a “hold” rating on the stock. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. Robert W. Baird upgraded shares of Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Tuesday, February 3rd. Northland Securities raised shares of Palantir Technologies from a “market perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Tuesday, February 3rd. Finally, DZ Bank initiated coverage on shares of Palantir Technologies in a research note on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

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.