Westpac Banking Corp Sells 11,550 Shares of Palantir Technologies Inc. $PLTR

Westpac Banking Corp lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 40.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,754 shares of the company’s stock after selling 11,550 shares during the period. Westpac Banking Corp’s holdings in Palantir Technologies were worth $2,451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Basepoint Wealth LLC acquired a new position in Palantir Technologies in the fourth quarter worth about $29,000. Morton Brown Family Wealth LLC boosted its holdings in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares in the last quarter. Cornerstone Financial Management LLC acquired a new stake in Palantir Technologies during the fourth quarter valued at approximately $31,000. Clayton Financial Group LLC grew its stake in shares of Palantir Technologies by 500.0% in the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in Palantir Technologies in the 1st quarter valued at $32,000. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PLTR. BNP Paribas Exane assumed coverage on Palantir Technologies in a research note on Tuesday, June 16th. They set an “underperform” rating for the company. BTIG Research lowered shares of Palantir Technologies to a “neutral” rating in a report on Tuesday, June 16th. Zacks Research upgraded shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Royal Bank Of Canada reissued an “underperform” rating and set a $90.00 price target on shares of Palantir Technologies in a report on Tuesday, May 5th. Finally, Argus upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $190.85.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 165,514 shares of the firm’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 value of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 the business’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 transaction of $54,109,093.76. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. This trade represents a 5.82% 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. Insiders sold 1,112,270 shares of company stock valued at $150,247,785 in the last three months. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $132.66 on Wednesday. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52. The firm has a market cap of $318.03 billion, a PE ratio of 149.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.56. The business has a fifty day moving average of $132.09 and a 200-day moving average of $143.38.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (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 for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company earned $0.13 EPS. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. On average, analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir’s AI software demand continues to support rapid revenue growth, with recent coverage highlighting strong first-quarter results, rising contract value, and growing adoption of its Artificial Intelligence Platform by U.S. commercial customers. Palantir Stock Extends Recovery on Strong AI Software Demand
• Positive Sentiment: Multiple bullish outlook pieces say Palantir could rally further into its upcoming Aug. 3 report, as investors look for another earnings beat and guidance raise to extend the stock’s recovery. Prediction: Palantir Stock Will Go Parabolic After Aug. 3. Here’s Why
• Positive Sentiment: Commentary also points to Palantir’s unique Ontology platform and its growing footprint across government and enterprise customers as reasons some investors still see substantial long-term upside. Prediction: This Could Be Palantir’s Stock Price By the End of 2027
• Neutral Sentiment: Several articles are debating whether Palantir is now a buy after its pullback, but these pieces mostly reinforce that the key issue remains valuation rather than the company’s operating performance. Palantir Stock Is Down More Than 35% from Its Peak. Is It Finally a Buy?
• Negative Sentiment: Bearish coverage continues to pressure sentiment by emphasizing that Palantir trades at a rich multiple, leaving the stock vulnerable if growth slows or the next update fails to impress. Palantir: The Stock Is Richly Valued With a Forward P/S Multiple of Over 40x, but Is the Growth Story Still Worth Buying Into?

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.