Lord Abbett & CO. LLC Acquires 79,469 Shares of Palantir Technologies Inc. $PLTR

Lord Abbett & CO. LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,222,213 shares of the company’s stock after acquiring an additional 79,469 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Palantir Technologies were worth $217,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLTR. Bare Financial Services Inc increased 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. Basepoint Wealth LLC bought a new stake in Palantir Technologies in the fourth quarter valued at about $29,000. Morton Brown Family Wealth LLC grew its stake in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the last quarter. United Financial Planning Group LLC bought a new stake in Palantir Technologies during the third quarter worth about $32,000. Finally, Clayton Financial Group LLC grew its stake in Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR’s Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 397,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the transaction, the insider owned 642,786 shares in the company, valued at $87,444,607.44. This represents a 20.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 925,789 shares of company stock valued at $126,007,032 in the last three months. 9.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of several research analyst reports. Mizuho decreased their price objective 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. Zacks Research raised shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Benchmark initiated coverage on shares of Palantir Technologies in a research note on Wednesday, April 1st. They set a “hold” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Palantir Technologies in a research note on Friday, June 5th. Finally, UBS Group upped their price objective on shares of Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Moderate Buy” and an average price target of $192.76.

Palantir Technologies Trading Down 2.4%

Shares of PLTR stock opened at $127.99 on Friday. Palantir Technologies Inc. has a 1 year low of $122.68 and a 1 year high of $207.52. The firm’s 50 day moving average is $139.54 and its 200-day moving average is $153.76. The firm has a market capitalization of $306.83 billion, a price-to-earnings ratio of 143.81, a PEG ratio of 2.08 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.54 billion. During the same period in the prior year, the business earned $0.13 earnings per share. Palantir Technologies’s quarterly revenue was up 84.7% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

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.