Hartford Investment Management Co. Trims Stock Holdings in Palantir Technologies Inc. $PLTR

Hartford Investment Management Co. lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,930 shares of the company’s stock after selling 3,244 shares during the quarter. Hartford Investment Management Co.’s holdings in Palantir Technologies were worth $14,809,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after acquiring an additional 1,557,828 shares during the last quarter. State Street Corp lifted its holdings in shares of Palantir Technologies by 1.1% in the 4th quarter. State Street Corp now owns 102,385,317 shares of the company’s stock worth $18,198,990,000 after acquiring an additional 1,126,418 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock worth $9,599,882,000 after acquiring an additional 805,047 shares during the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $5,149,641,000. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 2.8% during the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock worth $3,984,281,000 after purchasing an additional 616,297 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $174.04 on Friday. The firm has a market cap of $417.23 billion, a price-to-earnings ratio of 148.75, a PEG ratio of 2.55 and a beta of 1.59. The firm has a 50 day simple moving average of $134.60 and a 200-day simple moving average of $140.15. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The firm’s revenue for the quarter was up 92.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. Equities analysts predict that Palantir Technologies Inc. will post 1.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 17,128 shares of the business’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 $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares in the company, valued at $51,047,921.68. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Shyam Sankar sold 165,514 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the sale, the insider directly owned 642,786 shares in the company, valued at $87,444,607.44. This represents a 20.48% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 1,150,302 shares of company stock valued at $156,197,565. Corporate insiders own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLTR. Northland Securities set a $200.00 target price on Palantir Technologies in a research report on Tuesday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of Palantir Technologies in a research note on Friday, July 24th. Oppenheimer lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 4th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $80.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, Mizuho boosted their price objective on Palantir Technologies from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.19.

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.