FFG Partners LLC Has $20.89 Million Stock Position in Palantir Technologies Inc. $PLTR

FFG Partners LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 8.9% during the first quarter, HoldingsChannel.com reports. The firm owned 142,825 shares of the company’s stock after selling 13,902 shares during the quarter. Palantir Technologies makes up about 8.3% of FFG Partners LLC’s portfolio, making the stock its 3rd largest holding. FFG Partners LLC’s holdings in Palantir Technologies were worth $20,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 0.7% in the fourth 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. State Street Corp increased its holdings in shares of Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company’s stock valued at $18,198,990,000 after acquiring an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock worth $9,599,882,000 after purchasing an additional 805,047 shares during the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $5,149,641,000. Finally, Invesco Ltd. boosted its stake in Palantir Technologies by 2.8% in the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock worth $3,984,281,000 after purchasing an additional 616,297 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies News Roundup

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

• Positive Sentiment: Palantir announced it secured a foundational role in the U.S. Army’s Next Generation Command and Control data layer, reinforcing its position in defense modernization and supporting its long-term government revenue story. Palantir Secures Foundational Role in NGC2 Data Layer
• Positive Sentiment: Several recent commentaries highlighted Palantir’s strong fundamentals, including rapid U.S. revenue growth and continued analyst optimism, suggesting some investors still see value after the pullback. Palantir’s 104% U.S. Revenue Growth is the One Number You Should Watch
• Neutral Sentiment: Some articles argued the stock may now be more fairly valued after its recent pullback, but others said the valuation still leaves little room for error given the premium multiple. Palantir Technologies (PLTR) Stock After Recent Pullback Is The Price Now Fair?
• Negative Sentiment: Palantir hit a new 52-week low as traders reduced exposure to expensive AI/software stocks, and several reports flagged the stock’s weakness relative to the broader market and peers. What Happened With Palantir Stock Today?
• Negative Sentiment: Reports that France’s domestic intelligence agency is replacing Palantir with a local rival and that Palantir lost a major international contract are weighing on sentiment around overseas government demand. French Domestic Intelligence Agency Replaces Palantir (PLTR) for Local Rival, Reuters Reports

Palantir Technologies Stock Down 7.0%

Shares of PLTR stock opened at $119.50 on Tuesday. The company has a 50 day moving average price of $137.72 and a 200-day moving average price of $152.10. Palantir Technologies Inc. has a 52 week low of $119.20 and a 52 week high of $207.52. The firm has a market capitalization of $286.48 billion, a PE ratio of 134.27, a P/E/G ratio of 2.04 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating 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 company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. Analysts anticipate that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on PLTR. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of Palantir Technologies in a research report on Friday, June 5th. Mizuho dropped their target price on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. DA Davidson cut their price target on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Phillip Securities raised their price target on shares of Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Finally, HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $205.00 to $151.00 in a report on Friday, May 1st. 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.76.

Insider Activity

In related news, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 642,786 shares in the company, valued at approximately $87,444,607.44. This represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 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 $2,674,818.48. Following the sale, the insider owned 199,759 shares of the company’s stock, valued at approximately $27,175,214.36. This trade represents a 8.96% decrease in their position. 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. Over the last three months, insiders sold 927,270 shares of company stock worth $126,197,785. Insiders own 9.53% of the company’s stock.

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.