HighTower Advisors LLC Cuts Stock Holdings in Palantir Technologies Inc. $PLTR

HighTower Advisors LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682,258 shares of the company’s stock after selling 9,087 shares during the quarter. HighTower Advisors LLC’s holdings in Palantir Technologies were worth $79,599,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System grew its stake in Palantir Technologies by 11,040.0% in the 2nd quarter. California State Teachers Retirement System now owns 383,800,665 shares of the company’s stock valued at $44,778,024,000 after purchasing an additional 380,355,408 shares during the period. BlackRock Inc. increased its holdings in Palantir Technologies by 0.4% during the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock worth $22,146,030,000 after buying an additional 757,322 shares during the last quarter. State Street Corp boosted its stake in Palantir Technologies by 1.1% in 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 during the last quarter. Geode Capital Management LLC grew its position in shares of Palantir Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after acquiring an additional 805,047 shares during the period. Finally, Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $5,149,641,000. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 35,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $155.70, for a total value of $5,449,500.00. Following the sale, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $100,081,780.20. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander Karp sold 492,348 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at $1,124,294,375.82. This represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 721,508 shares of company stock valued at $117,070,093. Corporate insiders own 9.53% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $174.33 on Tuesday. The company has a market cap of $418.93 billion, a P/E ratio of 149.00, a P/E/G ratio of 2.47 and a beta of 1.62. The stock’s fifty day moving average price is $151.39 and its two-hundred day moving average price is $143.92. 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 quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 92.8% compared to the same quarter last year. On average, analysts expect that Palantir Technologies Inc. will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PLTR shares. Cantor Fitzgerald started coverage on Palantir Technologies in a research note on Tuesday, August 4th. They issued an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Tuesday, August 4th. Needham & Company LLC set a $215.00 price target on Palantir Technologies in a research note on Tuesday, August 11th. DA Davidson lifted their price objective on Palantir Technologies from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $204.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Moderate Buy” and an average price target of $192.19.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir’s shares surged about 51% in August after the company delivered better-than-expected earnings, revenue growth of nearly 93%, and an increased full-year outlook. Major customer wins and continued demand for its artificial-intelligence platforms reinforced the bullish narrative. Palantir Surged 51% in August
• Positive Sentiment: Analysts and bullish commentators continue to argue that Palantir can sustain its momentum as its software platforms expand across government and commercial customers. Its forward-deployed engineering model is also being studied by major technology companies, highlighting the potential strategic value of Palantir’s approach. Palantir Stock Could Make a Dramatic Move
• Neutral Sentiment: ARK Invest, led by Cathie Wood, sold roughly $25 million of Palantir shares while reallocating capital toward Rocket Lab, Robinhood, Block and other holdings. The sales may reflect portfolio management rather than a fundamental change in Palantir’s outlook, but they remove a notable source of buying support. Cathie Wood Dumps Palantir Shares
• Negative Sentiment: Michael Burry renewed his criticism that Palantir’s financial profile resembles a consultancy more than a high-margin software company. He pointed to accounts receivable of $1.49 billion, up from $1.04 billion at year-end, and significant exposure to a single customer’s receivables. The warning is particularly relevant given PLTR’s very elevated earnings multiple. Michael Burry’s Palantir Warning
• Negative Sentiment: Reports of insider selling and concerns about public distrust of Palantir’s work with sensitive government and health data add further potential overhangs. UK officials warned that mistrust could reduce NHS research participation, creating reputational and commercial risks. Palantir Shares Following Insider Selling

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.