Clear Street Group Inc. Cuts Stake in Palantir Technologies Inc. $PLTR

Clear Street Group Inc. lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,100,978 shares of the company’s stock after selling 139,800 shares during the quarter. Palantir Technologies accounts for 1.4% of Clear Street Group Inc.’s investment portfolio, making the stock its 4th biggest position. Clear Street Group Inc.’s holdings in Palantir Technologies were worth $373,449,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PLTR. Cornerstone Financial Management LLC bought a new stake in Palantir Technologies during the fourth quarter worth approximately $31,000. Destination Wealth Management raised its holdings in Palantir Technologies by 70.4% during the fourth quarter. Destination Wealth Management now owns 29,439 shares of the company’s stock worth $5,233,000 after purchasing an additional 12,164 shares in the last quarter. Element Wealth LLC grew its position in Palantir Technologies by 16.3% in the fourth quarter. Element Wealth LLC now owns 7,047 shares of the company’s stock worth $1,253,000 after buying an additional 988 shares during the last quarter. Entropy Technologies LP grew its position in Palantir Technologies by 120.1% in the fourth quarter. Entropy Technologies LP now owns 83,390 shares of the company’s stock worth $14,823,000 after buying an additional 45,503 shares during the last quarter. Finally, Ariadne Wealth Management LP grew its position in Palantir Technologies by 39.3% in the fourth quarter. Ariadne Wealth Management LP now owns 12,084 shares of the company’s stock worth $2,148,000 after buying an additional 3,411 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $127.99 on Friday. The company has a 50-day simple moving average of $139.54 and a 200-day simple moving average of $153.76. The firm has a market capitalization of $306.83 billion, a P/E ratio of 143.81, a P/E/G ratio of 2.03 and a beta of 1.53. Palantir Technologies Inc. has a 52 week low of $122.68 and a 52 week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Analysts Set New Price Targets

PLTR has been the topic of several research analyst reports. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. Oppenheimer initiated coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an “outperform” rating and a $200.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of Palantir Technologies in a report on Friday, June 5th. Weiss Ratings lowered shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Finally, DZ Bank started 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 investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $22,516,524.56. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was 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 represents a 5.82% 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. Insiders have sold a total of 925,789 shares of company stock valued at $126,007,032 over the last 90 days. Company insiders own 9.53% of the company’s stock.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR’s Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

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.