Leeward Financial Partners LLC Decreases Stock Holdings in Palantir Technologies Inc. $PLTR

Leeward Financial Partners LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 37.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,382 shares of the company’s stock after selling 8,527 shares during the quarter. Leeward Financial Partners LLC’s holdings in Palantir Technologies were worth $2,556,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. 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 buying an additional 1,557,828 shares during the period. State Street Corp lifted its stake in shares of Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after buying an additional 6,777,771 shares in the last quarter. Geode Capital Management LLC lifted its position in Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after purchasing an additional 805,047 shares during the period. Invesco Ltd. lifted its position in Palantir Technologies by 5.9% during the third quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock valued at $3,976,534,000 after purchasing an additional 1,213,529 shares during the period. Finally, Northern Trust Corp lifted its position in Palantir Technologies by 3.8% during the third quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock valued at $3,846,957,000 after purchasing an additional 769,238 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 165,514 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 transaction of $22,516,524.56. Following the completion of the transaction, the insider owned 642,786 shares in the company, valued at $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 David A. Glazer sold 17,128 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 transaction of $2,330,093.12. Following the transaction, the insider owned 375,242 shares of the company’s stock, valued at $51,047,921.68. This trade represents a 4.37% 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. Insiders sold a total of 922,524 shares of company stock valued at $125,501,302 in the last ninety days. Corporate insiders own 9.53% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $132.51 on Thursday. The stock has a market capitalization of $317.67 billion, a price-to-earnings ratio of 148.89, a PEG ratio of 2.17 and a beta of 1.52. The company has a fifty day moving average of $141.86 and a 200 day moving average of $156.37. Palantir Technologies Inc. has a fifty-two week low of $118.93 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate 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%. Palantir Technologies’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PLTR shares. Phillip Securities increased their price objective on shares of Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $138.00 price objective on shares of Palantir Technologies in a research note on Friday, May 22nd. DA Davidson reduced their price objective on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. The Goldman Sachs Group reduced their price objective on shares of Palantir Technologies from $188.00 to $182.00 in a research note on Tuesday, February 3rd. Finally, DZ Bank assumed coverage on shares of Palantir Technologies in a research note on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

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.