Buffalo Business & Estate Services Ltd. Sells 79,159 Shares of Palantir Technologies Inc. $PLTR

Buffalo Business & Estate Services Ltd. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 92.0% in the 1st quarter, Holdings Channel reports. The firm owned 6,883 shares of the company’s stock after selling 79,159 shares during the period. Buffalo Business & Estate Services Ltd.’s holdings in Palantir Technologies were worth $1,007,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PLTR. Bare Financial Services Inc raised its holdings in Palantir Technologies by 54.5% in the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the period. Basepoint Wealth LLC bought a new stake in Palantir Technologies during the fourth quarter valued at about $29,000. United Financial Planning Group LLC bought a new stake in Palantir Technologies during the third quarter valued at about $32,000. Morton Brown Family Wealth LLC grew its position in shares of Palantir Technologies by 250.0% in the fourth 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 during the last quarter. Finally, Cornerstone Financial Management LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $31,000. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 19,662 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the sale, the insider owned 199,759 shares in the company, valued at $27,175,214.36. The trade was a 8.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 business’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 transaction of $43,523,821.36. Following the sale, the insider directly owned 592 shares of the company’s stock, valued at approximately $80,535.68. This trade represents a 99.82% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 927,270 shares of company stock worth $126,197,785. 9.53% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 7.0%

PLTR stock opened at $119.50 on Tuesday. Palantir Technologies Inc. has a twelve month low of $119.20 and a twelve month high of $207.52. The company has a market cap of $286.48 billion, a P/E ratio of 134.27, a PEG ratio of 2.04 and a beta of 1.53. The business has a fifty day moving average of $137.72 and a 200-day moving average of $152.10.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results 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. The business had revenue of $1.63 billion for 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 firm’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLTR. Weiss Ratings downgraded Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price target on shares of Palantir Technologies in a research note on Friday, June 5th. Argus raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Wednesday, May 6th. Oppenheimer began coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an “outperform” rating and a $200.00 price target for the company. Finally, DA Davidson reduced their target price on Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Two 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 company’s stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Moderate Buy” and an average price target of $192.76.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir announced it secured a foundational role in the U.S. Army’s Next Generation Command and Control data layer, reinforcing its position in defense modernization and supporting its long-term government revenue story. Palantir Secures Foundational Role in NGC2 Data Layer
• Positive Sentiment: Several recent commentaries highlighted Palantir’s strong fundamentals, including rapid U.S. revenue growth and continued analyst optimism, suggesting some investors still see value after the pullback. Palantir’s 104% U.S. Revenue Growth is the One Number You Should Watch
• Neutral Sentiment: Some articles argued the stock may now be more fairly valued after its recent pullback, but others said the valuation still leaves little room for error given the premium multiple. Palantir Technologies (PLTR) Stock After Recent Pullback Is The Price Now Fair?
• Negative Sentiment: Palantir hit a new 52-week low as traders reduced exposure to expensive AI/software stocks, and several reports flagged the stock’s weakness relative to the broader market and peers. What Happened With Palantir Stock Today?
• Negative Sentiment: Reports that France’s domestic intelligence agency is replacing Palantir with a local rival and that Palantir lost a major international contract are weighing on sentiment around overseas government demand. French Domestic Intelligence Agency Replaces Palantir (PLTR) for Local Rival, Reuters Reports

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.