Cardano Risk Management B.V. Sells 5,888,014 Shares of Palantir Technologies Inc. $PLTR

Cardano Risk Management B.V. trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 89.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 697,616 shares of the company’s stock after selling 5,888,014 shares during the quarter. Cardano Risk Management B.V.’s holdings in Palantir Technologies were worth $102,047,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Milestone Asset Management LLC boosted its position in Palantir Technologies by 229.5% during the fourth quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock valued at $10,763,000 after acquiring an additional 42,173 shares during the last quarter. VCI Wealth Management LLC raised its position in shares of Palantir Technologies by 42.3% in the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock worth $2,166,000 after acquiring an additional 3,621 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 0.7% in the 4th 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 in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $222,143,000. Finally, Jefferson Bridge Capital LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $1,322,000. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PLTR shares. Phillip Securities raised their target price on Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. Wolfe Research raised Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, June 16th. Benchmark cut Palantir Technologies to a “hold” rating in a report on Tuesday, June 16th. Wedbush initiated coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They set an “outperform” rating for the company. Finally, UBS Group raised shares of Palantir Technologies from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir’s partnership with Zeta Global strengthens the company’s AI growth narrative and adds another enterprise use case for Foundry, which analysts view as validation of Palantir’s platform. Article Title
• Positive Sentiment: Cathie Wood’s ARK Invest bought Palantir shares, a signal that some growth investors still see value in the pullback. Article Title
• Neutral Sentiment: Several articles argue that Palantir’s selloff may have gone too far and that the stock could be a buy for long-term investors, but these are opinion pieces rather than new fundamentals. Article Title
• Negative Sentiment: Sentiment remains weak because Palantir has been sliding toward or hitting new 52-week lows, with reports pointing to AI disruption fears, sector rotation out of software, and valuation concerns as reasons for the decline. Article Title
• Negative Sentiment: Coverage also highlighted competitive and international setbacks, including reports of European customers moving away from Palantir, which may add pressure to the stock. Article Title

Insider Activity

In other news, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the transaction, the insider directly owned 642,786 shares of the company’s stock, valued at $87,444,607.44. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 the stock in a transaction on Wednesday, May 20th. The stock was 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 owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 927,270 shares of company stock valued at $126,197,785. Corporate insiders own 9.53% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $113.47 on Thursday. The stock has a 50-day moving average of $137.11 and a 200-day moving average of $151.23. The company has a market cap of $272.03 billion, a PE ratio of 127.50, a P/E/G ratio of 1.85 and a beta of 1.53. Palantir Technologies Inc. has a one year low of $112.25 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.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 previous year, the company posted $0.13 EPS. The firm’s revenue was up 84.7% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

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.