Wealthfront Advisers LLC Boosts Stake in Palantir Technologies Inc. $PLTR

Wealthfront Advisers LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.4% in the first quarter, HoldingsChannel.com reports. The fund owned 564,361 shares of the company’s stock after acquiring an additional 13,420 shares during the quarter. Wealthfront Advisers LLC’s holdings in Palantir Technologies were worth $82,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Vanguard Group Inc. increased its position in shares of Palantir Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after purchasing an additional 1,557,828 shares during the last quarter. State Street Corp lifted its position in Palantir Technologies by 1.1% in the 4th quarter. State Street Corp now owns 102,385,317 shares of the company’s stock worth $18,198,990,000 after buying an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 buying an additional 805,047 shares during the last quarter. Norges Bank purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $5,149,641,000. Finally, Invesco Ltd. boosted its stake in Palantir Technologies by 2.8% in the fourth quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock worth $3,984,281,000 after buying an additional 616,297 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 319,934 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider directly owned 592 shares of the company’s stock, valued at $80,535.68. This represents a 99.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 35,000 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $130.00, for a total transaction of $4,550,000.00. Following the completion of the sale, the insider owned 642,786 shares in the company, valued at approximately $83,562,180. This trade represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is currently owned by corporate insiders.

More Palantir Technologies News

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

• Positive Sentiment: Palantir confirmed its Q2 earnings release date, keeping attention on the upcoming Aug. 3 report and reinforcing the idea that the next catalyst could drive the stock higher if results and guidance are strong. Palantir Stock Climbs After Confirming Q2 Earnings Release
• Positive Sentiment: Recent partnership announcements and analyst commentary have kept Palantir in the spotlight, supporting the view that enterprise and government demand for its AI software remains strong. Palantir Stock in Focus After a Busy Stretch of Partnerships, Analyst Activity
• Positive Sentiment: The U.S. Small Business Administration expanded its use of Palantir software to help detect and prosecute pandemic-era fraud, highlighting continued government adoption of PLTR’s platforms. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Commentary around Palantir’s ontology and enterprise AI leadership suggests investors still see the company as a key beneficiary of AI adoption beyond simple model training. Palantir’s Ontology Edge Is Redefining AI Software Leadership
• Neutral Sentiment: Several articles focused on Palantir’s extremely rich valuation, with one piece asking whether its premium multiple is justified. That may keep debate intense, but it is not a direct business setback. Palantir Trades at 64X Sales. Here’s Whether That Premium Is Justified.
• Neutral Sentiment: Palantir’s CTO accused China’s AI models of being built on stolen U.S. intellectual property, which underscores the company’s hardline AI stance but is more of a geopolitical talking point than a direct earnings driver. Palantir CTO Says China’s AI Models Are Built on “Stolen American IP”
• Negative Sentiment: Some market commentary continues to frame PLTR as overextended versus peers, with articles comparing it unfavorably to Meta and citing concerns about its high multiple and recent volatility. Meta Vs. Palantir: Meta Platforms’ Deep Value Moats Crush Palantir’s Hyper-Inflatated Multiple
• Negative Sentiment: One article said Palantir fell as investors worried about new AI spending from Microsoft and Amazon and competition from Anthropic, suggesting rising competition could pressure sentiment. Why Is Palantir Stock Falling on Tuesday?

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PLTR shares. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Wednesday, May 6th. BNP Paribas Exane began coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They issued an “underperform” rating for the company. Mizuho cut their price target on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the company from $205.00 to $151.00 in a research note on Friday, May 1st. Finally, Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Moderate Buy” and an average target price of $190.85.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $133.76 on Thursday. The stock’s 50-day moving average is $132.36 and its 200 day moving average is $144.76. The company has a market cap of $320.66 billion, a PE ratio of 150.29, a P/E/G ratio of 2.14 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 issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business earned $0.13 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. Analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

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.