Axxcess Wealth Management LLC Has $10.64 Million Holdings in Palantir Technologies Inc. $PLTR

Axxcess Wealth Management LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 38.1% during the 1st quarter, Holdings Channel reports. The fund owned 73,285 shares of the company’s stock after selling 45,066 shares during the period. Axxcess Wealth Management LLC’s holdings in Palantir Technologies were worth $10,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $5,149,641,000. State Street Corp boosted its position in Palantir Technologies by 7.2% during the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after purchasing an additional 6,777,771 shares during the period. Cardano Risk Management B.V. increased its stake in shares of Palantir Technologies by 917.4% in the fourth quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock worth $1,170,596,000 after purchasing an additional 5,938,343 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Palantir Technologies by 1,449.7% in the fourth quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company’s stock valued at $937,205,000 after purchasing an additional 4,932,364 shares during the period. Finally, Amundi raised its position in shares of Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company’s stock valued at $2,814,879,000 after purchasing an additional 4,373,201 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 397,744 shares of the company’s stock in a transaction on 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 sale, the insider 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. This represents a 99.82% decrease in their position. 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. Insiders have sold 1,112,270 shares of company stock valued at $150,247,785 over the last 90 days. Company insiders own 9.53% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $134.37 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The stock has a market cap of $322.13 billion, a P/E ratio of 150.98, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56. The firm’s fifty day moving average price is $133.27 and its 200-day moving average price is $147.37.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue was up 84.7% compared to the same quarter last year. On average, analysts predict that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir announced an expansion agreement with GNP Seguros, giving it its first publicly announced commercial customer in Latin America and underscoring international growth potential. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
• Positive Sentiment: DA Davidson upgraded Palantir to Buy, adding analyst credibility to the recent rebound and supporting the view that the stock’s AI platform is gaining value with enterprises. DA Davidson Upgrades Palantir (PLTR) To Buy
• Positive Sentiment: Coverage tied Palantir’s recent move to its expanded Nvidia partnership and stronger sovereign AI positioning, which investors see as a major long-term growth channel in government and critical infrastructure. Palantir’s AI Position Wins New Support From Analysts
• Positive Sentiment: Market commentary also pointed to Palantir’s defense and AI momentum, including new international contract traction and expanding adoption of its software stack, which can fuel expectations for continued revenue growth. Why Palantir Stock Ticked Higher on Tuesday

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PLTR shares. Benchmark downgraded shares of Palantir Technologies to a “hold” rating in a report on Tuesday, June 16th. Wolfe Research upgraded Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. DZ Bank started coverage on Palantir Technologies in a research report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price target for the company. BNP Paribas Exane started coverage on Palantir Technologies in a research note on Tuesday, June 16th. They set an “underperform” rating on the stock. Finally, UBS Group upgraded Palantir Technologies from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

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.