Geneos Wealth Management Inc. Decreases Stock Holdings in Palantir Technologies Inc. $PLTR

Geneos Wealth Management Inc. lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 24.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,731 shares of the company’s stock after selling 3,812 shares during the period. Geneos Wealth Management Inc.’s holdings in Palantir Technologies were worth $1,716,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. NFSG Corp boosted its position in Palantir Technologies by 8.9% during the 1st quarter. NFSG Corp now owns 89,462 shares of the company’s stock worth $13,087,000 after purchasing an additional 7,276 shares during the period. Signet Financial Management LLC raised its position in Palantir Technologies by 9.1% in the first quarter. Signet Financial Management LLC now owns 1,742 shares of the company’s stock valued at $255,000 after purchasing an additional 146 shares during the period. Opinicus Capital Inc. raised its position in Palantir Technologies by 58.2% in the first quarter. Opinicus Capital Inc. now owns 1,848 shares of the company’s stock valued at $270,000 after purchasing an additional 680 shares during the period. Sterling Investment Advisors Ltd. raised its position in Palantir Technologies by 35.1% in the first quarter. Sterling Investment Advisors Ltd. now owns 31,152 shares of the company’s stock valued at $4,557,000 after purchasing an additional 8,099 shares during the period. Finally, Cornerstone Advisory LLC lifted its stake in shares of Palantir Technologies by 7.9% during the first quarter. Cornerstone Advisory LLC now owns 5,244 shares of the company’s stock worth $767,000 after purchasing an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 397,744 shares of the 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 $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $128.80, for a total transaction of $190,752.80. Following the sale, the insider directly owned 60,226 shares of the company’s stock, valued at $7,757,108.80. The trade was a 2.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,112,270 shares of company stock worth $150,247,785 over the last ninety days. Company insiders own 9.53% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $132.38 on Friday. The firm has a 50-day moving average of $132.20 and a two-hundred day moving average of $144.30. The stock has a market cap of $317.36 billion, a P/E ratio of 148.74, a PEG ratio of 2.12 and a beta of 1.56. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating 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 company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm earned $0.13 earnings per share. The company’s revenue was up 84.7% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. Wedbush initiated coverage on Palantir Technologies in a research report on Tuesday, June 16th. They issued an “outperform” rating for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $138.00 target price on shares of Palantir Technologies in a report on Friday, May 22nd. DZ Bank initiated coverage on Palantir Technologies in a research report on Thursday, April 23rd. They set a “buy” rating and a $175.00 price target on the stock. Oppenheimer started coverage on Palantir Technologies in a report on Thursday, April 30th. They issued an “outperform” rating and a $200.00 price target for the company. Finally, Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $90.00 price objective on shares of Palantir Technologies in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.85.

Key Palantir Technologies News

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

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

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.