Palantir Technologies Inc. $PLTR is BLKBRD Asset Management LP’s 10th Largest Position

BLKBRD Asset Management LP cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 79.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,518 shares of the company’s stock after selling 88,400 shares during the period. Palantir Technologies comprises 5.4% of BLKBRD Asset Management LP’s holdings, making the stock its 10th largest position. BLKBRD Asset Management LP’s holdings in Palantir Technologies were worth $4,003,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PLTR. Norges Bank purchased a new stake in Palantir Technologies during the fourth quarter valued at about $5,149,641,000. State Street Corp increased its holdings in shares of Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after purchasing an additional 6,777,771 shares during the period. Cardano Risk Management B.V. increased its holdings in shares of 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 valued at $1,170,596,000 after purchasing an additional 5,938,343 shares during the period. Amundi increased its holdings in shares of Palantir Technologies by 38.7% in the 3rd 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. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Palantir Technologies by 637.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,459,068 shares of the company’s stock valued at $792,610,000 after purchasing an additional 3,854,452 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research reports. DA Davidson dropped their target price on Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and dropped their target price for the company from $205.00 to $151.00 in a report on Friday, May 1st. Citigroup upped their target price on Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Benchmark downgraded Palantir Technologies to a “hold” rating in a report on Tuesday. Finally, Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Moderate Buy” and an average target price of $192.76.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $133.25 on Wednesday. The stock’s 50 day moving average price is $138.96 and its 200 day moving average price is $153.27. Palantir Technologies Inc. has a 52 week low of $122.68 and a 52 week high of $207.52. The company has a market capitalization of $319.44 billion, a P/E ratio of 149.72, a P/E/G ratio of 2.14 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping 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 firm 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 company posted $0.13 earnings per share. The firm’s revenue was up 84.7% on a year-over-year basis. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Key Palantir Technologies News

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

• Positive Sentiment: Wolfe Research upgraded Palantir Technologies (PLTR) to Peer Perform/Hold, signaling that analysts see less downside risk and still view the company as a major AI enterprise player. This Analyst Just Upgraded Palantir Stock. Here’s Why.
• Positive Sentiment: Coverage around Palantir’s recent AI partnerships and customer deployments at AIPCon 10 continues to support the bullish long-term AI-growth narrative. Will New AI Partnerships And Governance Votes At AIPCon 10 Change Palantir Technologies’ (PLTR) Narrative
• Neutral Sentiment: Some commentary says Palantir remains a leading enterprise AI software provider, but investors are still debating whether the stock’s recent pullback has made the valuation more reasonable. Palantir Technologies (PLTR) Stock Could Be 25.9% Overvalued After AI Rally
• Neutral Sentiment: Insider selling by Jeffrey Buckley was disclosed, but it was a small sale executed under a pre-arranged 10b5-1 plan, so it is more of a sentiment signal than a major fundamental change. Jeffrey Buckley Sells 1,481 Shares of Palantir Technologies (NASDAQ:PLTR) Stock
• Negative Sentiment: France’s domestic spy agency is reportedly dropping Palantir in favor of a local rival, adding to concerns that European governments may prefer domestic providers for sensitive data projects. French domestic spy agency ditches Palantir for local rival, PM says
• Negative Sentiment: Palantir also lost a Swiss legal challenge tied to government contract scrutiny and data-sovereignty issues, reinforcing regulatory and political risk in Europe. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe
• Negative Sentiment: Analyst commentary also points to Palantir’s still-stretched valuation, which is limiting upside even after the company’s strong AI momentum and recent upgrades. There’s a Catch,’ Says Top Analyst About Palantir (PLTR) Stock

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 165,514 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 value of $22,516,524.56. Following the transaction, 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 filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 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 value of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares in the company, valued at $51,047,921.68. This represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 927,270 shares of company stock valued at $126,197,785 in the last ninety days. 9.53% of the stock is currently owned by insiders.

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.