Palantir Technologies Inc. $PLTR Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 15.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,050,679 shares of the company’s stock after selling 185,168 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Palantir Technologies were worth $153,591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLTR. Basepoint Wealth LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $29,000. United Financial Planning Group LLC purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at about $32,000. Morton Brown Family Wealth LLC raised its position in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $31,000. Finally, Clayton Financial Group LLC lifted its stake in Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 150 shares during 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: 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

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 397,744 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 $54,109,093.76. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at $875,044,378.32. This represents a 5.82% decrease in their position. The transaction was disclosed in a document filed 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, Director Lauren Elaina Friedman Stat sold 1,598 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $255,680.00. Following the sale, the director owned 55,022 shares of the company’s stock, valued at approximately $8,803,520. This represents a 2.82% decrease in their position. 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 valued at $126,197,785 in the last 90 days. Company insiders own 9.53% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $112.93 on Monday. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The company has a market capitalization of $270.73 billion, a P/E ratio of 126.89, a PEG ratio of 1.82 and a beta of 1.53. The stock has a 50-day simple moving average of $135.96 and a 200-day simple moving average of $150.22.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results 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. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business’s revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. As a group, analysts forecast that Palantir Technologies Inc. will post 1.16 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PLTR shares. DZ Bank began coverage on Palantir Technologies in a report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price target for the company. BNP Paribas Exane assumed coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They set an “underperform” rating on the stock. UBS Group upgraded shares of Palantir Technologies from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. Citigroup boosted their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, DA Davidson lowered their target price on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

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.