Sterling Capital Management LLC Sells 25,801 Shares of Palantir Technologies Inc. $PLTR

Sterling Capital Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 28.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,348 shares of the company’s stock after selling 25,801 shares during the quarter. Sterling Capital Management LLC’s holdings in Palantir Technologies were worth $9,705,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies during the 4th quarter worth about $450,000. Bison Wealth LLC grew its holdings in shares of Palantir Technologies by 37.4% in the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after acquiring an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 38.0% in the 1st quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after acquiring an additional 4,722 shares in the last quarter. Schnieders Capital Management LLC. increased its position in shares of Palantir Technologies by 36.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock valued at $858,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Vivaldi Capital Management LP acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $315,000. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLTR. Wolfe Research raised Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. Phillip Securities boosted their price target on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. BTIG Research cut Palantir Technologies to a “neutral” rating in a research note on Tuesday, June 16th. Citigroup increased their price objective on Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $138.00 target price on shares of Palantir Technologies in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Palantir Technologies Stock Up 5.3%

Shares of NASDAQ PLTR opened at $112.93 on Friday. The business’s 50 day moving average price is $135.96 and its two-hundred day moving average price is $150.44. The company has a market cap of $270.73 billion, a PE ratio of 126.89, a price-to-earnings-growth ratio of 1.73 and a beta of 1.53. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue was up 84.7% on a year-over-year basis. As a group, research analysts anticipate that Palantir Technologies Inc. will post 1.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 319,934 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the transaction, the insider directly owned 592 shares in the company, valued at $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 1,481 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $128.80, for a total transaction of $190,752.80. Following the completion of the transaction, the insider directly owned 60,226 shares in the company, valued at $7,757,108.80. The trade was a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 927,270 shares of company stock worth $126,197,785 in the last quarter. Company insiders own 9.53% of the company’s stock.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: ARK Invest reportedly bought about $3.3 million of Palantir shares, helping fuel “buy the dip” interest after the stock hit 52-week lows. Why Is Palantir Stock Surging On Friday?
• Positive Sentiment: Wedbush and other bullish commentators argued the recent tech selloff is a buying opportunity, saying investors still underestimate Palantir’s role in enterprise AI. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: New growth catalysts were highlighted from Palantir’s partnerships with Zeta Global and the U.S. Army, reinforcing demand for its software platform. Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
• Positive Sentiment: Several articles pointed out that PLTR has become one of the most oversold mega-cap tech names, suggesting the stock may be stretched too far to the downside. Palantir Becomes Most Oversold Mega-Cap Tech Stock
• Neutral Sentiment: Palantir’s recent rebound also came as software stocks outperformed semiconductors, reflecting a broader sector rotation rather than a company-specific breakthrough. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Negative Sentiment: Despite the bounce, Palantir is still under pressure from a broad AI/software selloff, concerns about rich valuation, and fear that expectations ran ahead of fundamentals. Why Palantir Stock Soared Today
• Negative Sentiment: Bearish coverage also continued, including a Seeking Alpha piece on “accelerating AI risks,” underscoring investor worries about competition and the sustainability of Palantir’s premium multiple. Palantir: Accelerating AI Risks

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.