Arax Advisory Partners Sells 37,497 Shares of Palantir Technologies Inc. $PLTR

Arax Advisory Partners lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 70.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,478 shares of the company’s stock after selling 37,497 shares during the period. Arax Advisory Partners’ holdings in Palantir Technologies were worth $2,751,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Palantir Technologies in the 4th quarter worth $5,149,641,000. Vanguard Group Inc. raised its holdings in shares of Palantir Technologies by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after buying an additional 8,168,604 shares in the last quarter. State Street Corp lifted its position in Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after buying an additional 6,777,771 shares during the last quarter. Cardano Risk Management B.V. lifted its position in Palantir Technologies by 917.4% in the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock worth $1,170,596,000 after buying an additional 5,938,343 shares during the last quarter. Finally, Amundi boosted its stake in Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company’s stock worth $2,814,879,000 after buying an additional 4,373,201 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies 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 $43,523,821.36. Following the sale, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. 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 925,789 shares of company stock valued at $126,007,032 over the last three months. Corporate insiders own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLTR. Mizuho reduced their price target on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Benchmark assumed coverage on shares of Palantir Technologies in a report on Wednesday, April 1st. They issued a “hold” rating for the company. Royal Bank Of Canada reissued an “underperform” rating and issued a $90.00 price target on shares of Palantir Technologies in a research note on Tuesday, May 5th. UBS Group upped their price target on shares of Palantir Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Finally, Zacks Research raised Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two investment 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.76.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $127.99 on Monday. The stock has a market cap of $306.83 billion, a P/E ratio of 143.81, a price-to-earnings-growth ratio of 2.03 and a beta of 1.53. The firm’s fifty day simple moving average is $139.54 and its 200 day simple moving average is $153.70. Palantir Technologies Inc. has a twelve month low of $122.68 and a twelve month 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 the consensus estimate 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 analyst estimates of $1.54 billion. During the same period in the prior year, the business earned $0.13 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Palantir Technologies News Roundup

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 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.