State of Wisconsin Investment Board Sells 6,750 Shares of Palantir Technologies Inc. $PLTR

State of Wisconsin Investment Board lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,189,602 shares of the company’s stock after selling 6,750 shares during the quarter. Palantir Technologies comprises approximately 0.5% of State of Wisconsin Investment Board’s investment portfolio, making the stock its 24th largest position. State of Wisconsin Investment Board’s holdings in Palantir Technologies were worth $211,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Norges Bank bought a new position in Palantir Technologies during the fourth quarter worth about $5,149,641,000. State Street Corp lifted its holdings in shares of Palantir Technologies by 7.2% during 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 in the last quarter. Cardano Risk Management B.V. lifted its holdings in shares of Palantir Technologies by 917.4% during 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 in the last quarter. Amundi lifted its holdings in shares of Palantir Technologies by 38.7% during 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 in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Palantir Technologies by 637.5% during 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 in the last quarter. Institutional investors own 45.65% of the company’s stock.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Wolfe Research upgraded Palantir to Peer Perform, and other analysts remain constructive on its AI platform and enterprise growth outlook, which is helping offset some of the bearish sentiment around the name. This Analyst Just Upgraded Palantir Stock. Here’s Why.
• Positive Sentiment: Coverage continues to highlight Palantir’s strong AI momentum, new partnerships, and expanding customer deployments, reinforcing the view that demand for its software remains robust. Will New AI Partnerships And Governance Votes At AIPCon 10 Change Palantir Technologies’ (PLTR) Narrative
• Positive Sentiment: A reported purchase of PLTR shares by a U.S. senator with defense oversight duties is being viewed by some investors as a signal of confidence in Palantir’s government-contracting franchise. U.S. senator makes super suspicious Palantir stock trade
• Neutral Sentiment: Some commentary argues Palantir may be attractive after its pullback, but this is mainly a valuation debate rather than a fresh business catalyst. Down Nearly 40% From Its Highs, Is Palantir Stock a Once-in-a-Decade Buying Opportunity?
• Negative Sentiment: Palantir is facing fresh Europe-related headwinds after French authorities reportedly ended its work with the country’s intelligence agency, favoring a domestic provider instead. Update: Palantir Technologies to Stop Working With French Intelligence, PM Lecornu Says
• Negative Sentiment: A Swiss legal loss over government contract scrutiny adds to investor worries about data-sovereignty and regulatory challenges in Europe, which could limit international expansion. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe
• Negative Sentiment: Analysts also continue to flag Palantir’s stretched valuation, and some reports note insider selling, both of which can temper enthusiasm even with strong AI growth. Palantir Technologies (PLTR) Stock Could Be 25.9% Overvalued After AI Rally.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 397,744 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Stephen Andrew Cohen sold 319,934 shares of the firm’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 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 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. In the last ninety days, insiders sold 927,270 shares of company stock valued at $126,197,785. 9.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PLTR shares. Mizuho cut 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 report on Tuesday, April 14th. Weiss Ratings lowered Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. UBS Group raised Palantir Technologies from a “buy” rating to a “buy” rating in a research report on Tuesday. Benchmark lowered Palantir Technologies to a “hold” rating in a report on Tuesday. Finally, DZ Bank began coverage on Palantir Technologies in a report on Thursday, April 23rd. They set a “buy” rating and a $175.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Palantir Technologies Trading Down 1.1%

Palantir Technologies stock opened at $133.25 on Wednesday. The company has a market capitalization of $319.44 billion, a PE ratio of 149.72, a P/E/G ratio of 2.14 and a beta of 1.53. Palantir Technologies Inc. has a 12 month low of $122.68 and a 12 month high of $207.52. The stock has a 50-day moving average price of $138.96 and a two-hundred day moving average price of $153.27.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal 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.