Elite Wealth Management Inc. Has $9.65 Million Stake in Palantir Technologies Inc. $PLTR

Elite Wealth Management Inc. decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.1% in the first quarter, Holdings Channel reports. The institutional investor owned 65,939 shares of the company’s stock after selling 5,827 shares during the quarter. Palantir Technologies accounts for about 3.1% of Elite Wealth Management Inc.’s holdings, making the stock its 8th biggest position. Elite Wealth Management Inc.’s holdings in Palantir Technologies were worth $9,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in Palantir Technologies in the 4th quarter worth about $5,149,641,000. Jennison Associates LLC purchased a new position in Palantir Technologies in the first quarter worth about $1,574,111,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Palantir Technologies by 277.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock worth $1,528,143,000 after buying an additional 7,678,747 shares in the last quarter. State Street Corp grew its holdings in shares of Palantir Technologies by 7.2% during the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares during the last quarter. Finally, Cardano Risk Management B.V. increased its position in shares of Palantir Technologies by 917.4% during the fourth quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock valued at $1,170,596,000 after acquiring an additional 5,938,343 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

More Palantir Technologies News

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

• Positive Sentiment: Oppenheimer maintained its bullish outlook, reiterating an Outperform rating and a $200 price target. The firm expects Palantir to deliver a solid second-quarter earnings beat and potentially raise its outlook, with revenue growth of roughly 85% supporting the case. Oppenheimer Lays Out Expectations for Palantir Stock Ahead of August 3 Earnings
• Positive Sentiment: Strong operating momentum is attracting buyers ahead of the August 3 earnings release. Recent results showed revenue growth above 80%, while analysts and bullish commentators believe commercial adoption of Palantir’s AI platform could support another meaningful beat. Several published price targets remain well above the current trading level, including Oppenheimer’s $200 target. Palantir Stock Surges as Oppenheimer Predicts Strong Q2 Earnings Beat
• Positive Sentiment: Palantir’s AI infrastructure and software positioning remains a long-term catalyst. Commentary contrasting Palantir with hardware-focused technology companies suggests that continued spending on AI infrastructure could increase demand for the software and operating systems that run on top of it. IBM Fell 25% as Hardware Spending Dominated AI Budgets

Palantir Technologies Trading Up 7.0%

Shares of NASDAQ PLTR opened at $131.53 on Tuesday. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52. The firm has a market capitalization of $315.32 billion, a price-to-earnings ratio of 147.79, a price-to-earnings-growth ratio of 1.96 and a beta of 1.56. The firm has a 50 day moving average of $131.48 and a 200 day moving average of $141.99.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping 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 business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company posted $0.13 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. Sell-side analysts predict that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on PLTR. Cantor Fitzgerald reiterated a “neutral” rating and issued a $138.00 price objective on shares of Palantir Technologies in a report on Friday, May 22nd. President Capital upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.50 to $133.00 in a research report on Monday, June 29th. Mizuho dropped their target price on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. BTIG Research downgraded shares of Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Palantir Technologies in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $189.88.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 397,744 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,674,818.48. Following the transaction, the insider directly owned 199,759 shares in the company, valued at approximately $27,175,214.36. The trade was a 8.96% decrease in their ownership of the stock. 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 sold 1,112,270 shares of company stock worth $150,247,785 in the last quarter. Company insiders own 9.53% of the company’s 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.