Westpac Banking Corp Sells 11,550 Shares of Palantir Technologies Inc. $PLTR

Westpac Banking Corp decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 40.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 16,754 shares of the company’s stock after selling 11,550 shares during the period. Westpac Banking Corp’s holdings in Palantir Technologies were worth $2,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Beaumont Financial Advisors LLC lifted its holdings in Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after buying an additional 59 shares during the period. Transcend Capital Advisors LLC raised its position in shares of Palantir Technologies by 0.6% during the 4th quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after acquiring an additional 60 shares during the last quarter. San Luis Wealth Advisors LLC raised its position in shares of Palantir Technologies by 1.6% during the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock valued at $726,000 after acquiring an additional 63 shares during the last quarter. Monument Capital Management lifted its stake in shares of Palantir Technologies by 1.2% in the 4th quarter. Monument Capital Management now owns 5,341 shares of the company’s stock valued at $949,000 after purchasing an additional 63 shares during the period. Finally, CYBER HORNET ETFs LLC lifted its stake in shares of Palantir Technologies by 1.2% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 5,297 shares of the company’s stock valued at $966,000 after purchasing an additional 65 shares during the period. 45.65% of the stock is owned by institutional investors.

More Palantir Technologies News

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

• Positive Sentiment: Palantir’s AI software demand continues to support rapid revenue growth, with recent coverage highlighting strong first-quarter results, rising contract value, and growing adoption of its Artificial Intelligence Platform by U.S. commercial customers. Palantir Stock Extends Recovery on Strong AI Software Demand
• Positive Sentiment: Multiple bullish outlook pieces say Palantir could rally further into its upcoming Aug. 3 report, as investors look for another earnings beat and guidance raise to extend the stock’s recovery. Prediction: Palantir Stock Will Go Parabolic After Aug. 3. Here’s Why
• Positive Sentiment: Commentary also points to Palantir’s unique Ontology platform and its growing footprint across government and enterprise customers as reasons some investors still see substantial long-term upside. Prediction: This Could Be Palantir’s Stock Price By the End of 2027
• Neutral Sentiment: Several articles are debating whether Palantir is now a buy after its pullback, but these pieces mostly reinforce that the key issue remains valuation rather than the company’s operating performance. Palantir Stock Is Down More Than 35% from Its Peak. Is It Finally a Buy?
• Negative Sentiment: Bearish coverage continues to pressure sentiment by emphasizing that Palantir trades at a rich multiple, leaving the stock vulnerable if growth slows or the next update fails to impress. Palantir: The Stock Is Richly Valued With a Forward P/S Multiple of Over 40x, but Is the Growth Story Still Worth Buying Into?

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 397,744 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the completion of the sale, the insider directly owned 592 shares in the company, valued at $80,535.68. This represents a 99.82% decrease in their ownership of the stock. 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 90 days, insiders have sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings lowered Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $205.00 to $151.00 in a report on Friday, May 1st. Citigroup raised their target price on Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wedbush initiated coverage on Palantir Technologies in a research report on Tuesday, June 16th. They set an “outperform” rating for the company. Finally, Phillip Securities upped their price target on Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.85.

Palantir Technologies Stock Down 1.6%

Shares of NASDAQ PLTR opened at $132.66 on Wednesday. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52. The stock has a market cap of $318.03 billion, a price-to-earnings ratio of 149.06, a P/E/G ratio of 2.16 and a beta of 1.56. The company’s fifty day moving average is $132.09 and its 200-day moving average is $143.38.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (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 company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, research analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

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.