Taylor Frigon Capital Management LLC Takes Position in Palantir Technologies Inc. $PLTR

Taylor Frigon Capital Management LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, HoldingsChannel reports. The institutional investor acquired 16,254 shares of the company’s stock, valued at approximately $2,378,000. Palantir Technologies comprises about 1.4% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Beaumont Financial Advisors LLC lifted its holdings in Palantir Technologies by 2.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after purchasing an additional 59 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of Palantir Technologies by 0.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock worth $1,890,000 after buying an additional 60 shares in the last quarter. Sandbox Financial Partners LLC grew its holdings in shares of Palantir Technologies by 1.3% during the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock worth $873,000 after buying an additional 61 shares in the last quarter. San Luis Wealth Advisors LLC raised its position in shares of 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 buying an additional 63 shares during the last quarter. Finally, Monument Capital Management raised its position in shares of Palantir Technologies by 1.2% in the fourth quarter. Monument Capital Management now owns 5,341 shares of the company’s stock valued at $949,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the topic of a number of analyst reports. Zacks Research upgraded shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. HSBC downgraded 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. Citigroup raised their price objective on Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Mizuho lowered their price objective on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Finally, Wolfe Research upgraded Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Moderate Buy” and an average target price of $190.85.

Palantir Technologies Stock Down 1.6%

NASDAQ:PLTR opened at $132.22 on Thursday. The company has a market cap of $316.97 billion, a P/E ratio of 148.56, a P/E/G ratio of 2.15 and a beta of 1.56. The firm’s 50 day moving average is $133.05 and its two-hundred day moving average is $146.99. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 EPS. Research analysts forecast that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 19,662 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 value of $2,674,818.48. Following the transaction, the insider directly owned 199,759 shares in the company, valued at $27,175,214.36. This trade represents a 8.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value 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 represents a 5.82% 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 have sold 1,112,270 shares of company stock valued at $150,247,785 in the last ninety days. Company insiders own 9.53% of the company’s stock.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: DA Davidson upgraded Palantir to Buy and set a higher price target, reinforcing the bullish case that the company’s AI platform and defense exposure can support further upside. This Wall Street Analyst Sees 30% Upside in Palantir. Is It Time to Buy the Stock?
• Positive Sentiment: Palantir expanded its commercial footprint in Latin America by signing Mexico’s largest insurer, GNP Seguros, its first publicly announced commercial customer in the region, which supports the growth narrative beyond U.S. government contracts. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
• Positive Sentiment: The company also announced a strategic partnership with SNP to accelerate secure SAP transformations, adding another enterprise-use-case win that could broaden adoption of Palantir’s platform. SNP and Palantir Form Strategic Partnership to Accelerate Secure SAP Transformations
• Neutral Sentiment: Several pieces highlighted Palantir’s growing AI and defense relevance, including its sovereign AI work with Nvidia and commentary that the company is becoming more deeply embedded in long-duration government programs. Nvidia and Palantir Are Bringing Sovereign AI to the U.S. Government. Here’s How.
• Negative Sentiment: Shares are sliding as investors worry about intensifying political scrutiny of Palantir’s government business, including reports of possible House action tied to its contracts and criticism of the company’s political posture. Palantir’s real weak spot
• Negative Sentiment: Broader AI and growth-stock weakness is also weighing on PLTR, as traders sell expensive software names amid concerns about slower AI adoption and stretched valuations. What Is Going on With Palantir Stock on Wednesday?
• Negative Sentiment: Recent insider selling, including a large sale by Shyam Sankar, has added to investor caution and reinforced worries that insiders may see the stock as fully valued. Insider trade filing

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.