Palantir Technologies Inc. $PLTR Shares Sold by Heard Capital LLC

Heard Capital LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 903,109 shares of the company’s stock after selling 129,809 shares during the period. Palantir Technologies accounts for about 7.5% of Heard Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Heard Capital LLC’s holdings in Palantir Technologies were worth $160,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bare Financial Services Inc boosted its stake in Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the period. Beaumont Financial Advisors LLC boosted its stake in Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after acquiring an additional 59 shares during the period. Transcend Capital Advisors LLC boosted its stake in Palantir Technologies by 0.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after acquiring an additional 60 shares during the period. Sandbox Financial Partners LLC boosted its stake in Palantir Technologies by 1.3% in the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock valued at $873,000 after acquiring an additional 61 shares during the period. Finally, San Luis Wealth Advisors LLC boosted its stake in Palantir Technologies by 1.6% in the fourth quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock valued at $726,000 after acquiring an additional 63 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Shyam Sankar sold 165,514 shares of the business’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 sale, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. The trade was 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 at the SEC website. 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 business’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 value of $190,752.80. Following the sale, the insider directly owned 60,226 shares in the company, valued at approximately $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 have sold 927,270 shares of company stock valued at $126,197,785 over the last 90 days. Corporate insiders own 9.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLTR. Mizuho decreased their target price on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. DZ Bank began coverage on Palantir Technologies in a research note on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price for the company. Wolfe Research began coverage on Palantir Technologies in a report on Tuesday. They set a “peer perform” rating on the stock. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and cut their price target for the company from $205.00 to $151.00 in a report on Friday, May 1st. Finally, Wedbush began coverage on Palantir Technologies in a report on Tuesday. They set an “outperform” rating on the stock. 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 assigned a Sell rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Trending Headlines about Palantir Technologies

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

Palantir Technologies Trading Down 1.1%

PLTR opened at $133.25 on Wednesday. The business’s 50 day moving average is $138.96 and its 200-day moving average is $153.27. The stock has a market cap of $319.44 billion, a PE ratio of 149.72, a price-to-earnings-growth ratio of 2.14 and a beta of 1.53. Palantir Technologies Inc. has a twelve month low of $122.68 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results 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. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current year.

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.