Patton Fund Management Inc. Decreases Stake in Palantir Technologies Inc. $PLTR

Patton Fund Management Inc. lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 93.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,974 shares of the company’s stock after selling 29,746 shares during the period. Patton Fund Management Inc.’s holdings in Palantir Technologies were worth $289,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Basepoint Wealth LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth $29,000. Morton Brown Family Wealth LLC increased its holdings in shares of Palantir Technologies by 250.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $31,000. United Financial Planning Group LLC purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at about $32,000. Finally, Clayton Financial Group LLC lifted its stake in shares of Palantir Technologies by 500.0% in the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 2.4%

Shares of NASDAQ PLTR opened at $115.67 on Tuesday. The stock has a market cap of $277.30 billion, a price-to-earnings ratio of 129.97, a PEG ratio of 1.82 and a beta of 1.53. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The company’s 50-day moving average price is $135.42 and its 200 day moving average price is $149.76.

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, topping analysts’ consensus estimates of $0.28 by $0.05. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. As a group, research analysts expect that Palantir Technologies Inc. will post 1.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 397,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $54,109,093.76. Following the sale, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the 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 sale, the insider owned 592 shares in the company, valued at approximately $80,535.68. This trade represents a 99.82% 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. Over the last ninety days, insiders sold 927,270 shares of company stock valued at $126,197,785. Corporate 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: Palantir announced a strategic partnership with Nvidia to run AI and Nemotron models in secure government and critical-infrastructure environments, boosting its sovereign AI growth narrative. Palantir Launches Engine for Deploying NVIDIA Nemotron Open Models in Sovereign Environments
• Positive Sentiment: Reports that Japan could use Palantir’s Maven Smart System added another potential international government-use case for its AI software. Japan considers using Palantir’s Maven Smart System
• Positive Sentiment: Several articles highlighted that Palantir’s recent selloff may have made the stock more attractive, while buying from Ark Invest and upbeat analyst commentary provided extra support. Cathie Wood Is Backing the Truck Up on Palantir Stock. Is She Finally Right?

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. UBS Group raised shares of Palantir Technologies from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price target on shares of Palantir Technologies in a research report on Friday, June 5th. Royal Bank Of Canada reiterated an “underperform” rating and set a $90.00 price target on shares of Palantir Technologies in a research report on Tuesday, May 5th. Citigroup boosted their price target on Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Phillip Securities upped their price target on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.46.

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.