Palantir Technologies Inc. $PLTR Shares Sold by Clear Street Group Inc.

Clear Street Group Inc. trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,100,978 shares of the company’s stock after selling 139,800 shares during the period. Palantir Technologies accounts for about 1.4% of Clear Street Group Inc.’s investment portfolio, making the stock its 4th biggest holding. Clear Street Group Inc. owned about 0.09% of Palantir Technologies worth $373,449,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Cornerstone Financial Management LLC acquired a new position in Palantir Technologies in the fourth quarter worth about $31,000. Destination Wealth Management grew its stake in Palantir Technologies by 70.4% in the fourth quarter. Destination Wealth Management now owns 29,439 shares of the company’s stock worth $5,233,000 after purchasing an additional 12,164 shares in the last quarter. Element Wealth LLC grew its stake in Palantir Technologies by 16.3% in the fourth quarter. Element Wealth LLC now owns 7,047 shares of the company’s stock worth $1,253,000 after purchasing an additional 988 shares in the last quarter. Entropy Technologies LP grew its stake in Palantir Technologies by 120.1% in the fourth quarter. Entropy Technologies LP now owns 83,390 shares of the company’s stock worth $14,823,000 after purchasing an additional 45,503 shares in the last quarter. Finally, Ariadne Wealth Management LP grew its stake in Palantir Technologies by 39.3% in the fourth quarter. Ariadne Wealth Management LP now owns 12,084 shares of the company’s stock worth $2,148,000 after purchasing an additional 3,411 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Key Palantir Technologies News

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price target on shares of Palantir Technologies in a research note on Friday, June 5th. Argus upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Wednesday, May 6th. UBS Group lifted their price target on Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Oppenheimer assumed coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They issued an “outperform” rating and a $200.00 target price on the stock. Finally, DA Davidson cut their target price on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Palantir Technologies Stock Down 2.4%

Shares of NASDAQ PLTR opened at $127.99 on Friday. The firm’s 50-day moving average price is $139.54 and its two-hundred day moving average price is $153.76. Palantir Technologies Inc. has a 52-week low of $122.68 and a 52-week high of $207.52. The stock has a market capitalization of $306.83 billion, a P/E ratio of 143.81, a P/E/G ratio of 2.03 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last issued 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 firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company posted $0.13 earnings per share. Palantir Technologies’s revenue was up 84.7% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 17,128 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,330,093.12. Following the transaction, the insider owned 375,242 shares of the company’s stock, valued at $51,047,921.68. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of Palantir Technologies 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 $2,674,818.48. Following the sale, the insider directly owned 199,759 shares in the company, valued at approximately $27,175,214.36. This trade represents a 8.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 925,789 shares of company stock valued at $126,007,032 over the last ninety days. Insiders own 9.53% of the company’s stock.

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.