Palantir Technologies Inc. $PLTR is Ibex Wealth Advisors’ 4th Largest Position

Ibex Wealth Advisors reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 19.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,444 shares of the company’s stock after selling 47,029 shares during the period. Palantir Technologies makes up approximately 3.3% of Ibex Wealth Advisors’ investment portfolio, making the stock its 4th biggest holding. Ibex Wealth Advisors’ holdings in Palantir Technologies were worth $33,674,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Palantir Technologies in the 4th quarter worth $5,149,641,000. State Street Corp grew its stake in Palantir Technologies by 7.2% during the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after purchasing an additional 6,777,771 shares during the last quarter. Cardano Risk Management B.V. grew its stake in Palantir Technologies by 917.4% during the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock valued at $1,170,596,000 after purchasing an additional 5,938,343 shares during the last quarter. Amundi increased its holdings in shares of Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company’s stock valued at $2,814,879,000 after purchasing an additional 4,373,201 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Palantir Technologies by 637.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,459,068 shares of the company’s stock valued at $792,610,000 after purchasing an additional 3,854,452 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLTR. Wolfe Research began coverage on Palantir Technologies in a report on Tuesday. They set a “peer perform” rating for the company. Benchmark lowered shares of Palantir Technologies to a “hold” rating in a research note on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $138.00 price target on shares of Palantir Technologies in a research note on Friday, May 22nd. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. Finally, Citigroup upped their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.00, for a total value of $255,680.00. Following the sale, the director owned 55,022 shares in the company, valued at approximately $8,803,520. The trade was a 2.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 165,514 shares of the stock in a transaction dated 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 transaction, the insider directly owned 642,786 shares in the company, valued at approximately $87,444,607.44. The trade was a 20.48% 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 have sold 927,270 shares of company stock valued at $126,197,785 over the last quarter. 9.53% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $133.25 on Wednesday. The stock has a 50 day moving average of $138.96 and a 200 day moving average of $153.27. The firm has a market capitalization of $319.44 billion, a price-to-earnings ratio of 149.72, a PEG ratio of 2.14 and a beta of 1.53. Palantir Technologies Inc. has a fifty-two week low of $122.68 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm earned $0.13 EPS. Palantir Technologies’s revenue was up 84.7% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Palantir Technologies News Roundup

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

• Positive Sentiment: Wolfe Research upgraded Palantir Technologies (PLTR) to Peer Perform/Hold, signaling that analysts see less downside risk and still view the company as a major AI enterprise player. This Analyst Just Upgraded Palantir Stock. Here’s Why.
• Positive Sentiment: Coverage around Palantir’s recent AI partnerships and customer deployments at AIPCon 10 continues to support the bullish long-term AI-growth narrative. Will New AI Partnerships And Governance Votes At AIPCon 10 Change Palantir Technologies’ (PLTR) Narrative
• Neutral Sentiment: Some commentary says Palantir remains a leading enterprise AI software provider, but investors are still debating whether the stock’s recent pullback has made the valuation more reasonable. Palantir Technologies (PLTR) Stock Could Be 25.9% Overvalued After AI Rally
• Neutral Sentiment: Insider selling by Jeffrey Buckley was disclosed, but it was a small sale executed under a pre-arranged 10b5-1 plan, so it is more of a sentiment signal than a major fundamental change. Jeffrey Buckley Sells 1,481 Shares of Palantir Technologies (NASDAQ:PLTR) Stock
• Negative Sentiment: France’s domestic spy agency is reportedly dropping Palantir in favor of a local rival, adding to concerns that European governments may prefer domestic providers for sensitive data projects. French domestic spy agency ditches Palantir for local rival, PM says
• Negative Sentiment: Palantir also lost a Swiss legal challenge tied to government contract scrutiny and data-sovereignty issues, reinforcing regulatory and political risk in Europe. Palantir (PLTR) Faces Swiss Legal Loss And French Contract Exit In Europe
• Negative Sentiment: Analyst commentary also points to Palantir’s still-stretched valuation, which is limiting upside even after the company’s strong AI momentum and recent upgrades. There’s a Catch,’ Says Top Analyst About Palantir (PLTR) Stock

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.