Pictet Asset Management Holding SA Trims Holdings in Palantir Technologies Inc. $PLTR

Pictet Asset Management Holding SA lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 15.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,050,679 shares of the company’s stock after selling 185,168 shares during the period. Pictet Asset Management Holding SA’s holdings in Palantir Technologies were worth $153,591,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth $29,000. United Financial Planning Group LLC acquired a new stake in shares of Palantir Technologies in the third quarter valued at $32,000. Morton Brown Family Wealth LLC raised 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 buying an additional 125 shares during the period. Cornerstone Financial Management LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $31,000. Finally, Clayton Financial Group LLC lifted its stake in Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $112.93 on Monday. The firm has a market cap of $270.73 billion, a PE ratio of 126.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.53. The stock has a fifty day moving average price of $135.96 and a 200 day moving average price of $150.22. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the firm posted $0.13 EPS. Palantir Technologies’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities analysts forecast that Palantir Technologies Inc. will post 1.16 EPS for the current year.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 17,128 shares of the company’s 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 $2,330,093.12. Following the sale, the insider directly owned 375,242 shares in the company, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 the firm’s 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 directly owned 199,759 shares in the company, valued at approximately $27,175,214.36. This trade represents a 8.96% 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. In the last ninety days, insiders have sold 927,270 shares of company stock worth $126,197,785. Corporate insiders own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. 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. Royal Bank Of Canada reissued an “underperform” rating and set a $90.00 price target on shares of Palantir Technologies in a research report on Tuesday, May 5th. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Wednesday, May 6th. Finally, UBS Group upgraded shares of Palantir Technologies from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.76.

More Palantir Technologies News

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

• Positive Sentiment: ARK Invest reportedly bought about $3.3 million of Palantir shares, helping fuel “buy the dip” interest after the stock hit 52-week lows. Why Is Palantir Stock Surging On Friday?
• Positive Sentiment: Wedbush and other bullish commentators argued the recent tech selloff is a buying opportunity, saying investors still underestimate Palantir’s role in enterprise AI. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: New growth catalysts were highlighted from Palantir’s partnerships with Zeta Global and the U.S. Army, reinforcing demand for its software platform. Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
• Positive Sentiment: Several articles pointed out that PLTR has become one of the most oversold mega-cap tech names, suggesting the stock may be stretched too far to the downside. Palantir Becomes Most Oversold Mega-Cap Tech Stock
• Neutral Sentiment: Palantir’s recent rebound also came as software stocks outperformed semiconductors, reflecting a broader sector rotation rather than a company-specific breakthrough. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Negative Sentiment: Despite the bounce, Palantir is still under pressure from a broad AI/software selloff, concerns about rich valuation, and fear that expectations ran ahead of fundamentals. Why Palantir Stock Soared Today
• Negative Sentiment: Bearish coverage also continued, including a Seeking Alpha piece on “accelerating AI risks,” underscoring investor worries about competition and the sustainability of Palantir’s premium multiple. Palantir: Accelerating AI Risks

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.