Palantir Technologies Inc. $PLTR Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,856,384 shares of the company’s stock after selling 271,889 shares during the period. California Public Employees Retirement System’s holdings in Palantir Technologies were worth $564,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Norges Bank acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $5,149,641,000. State Street Corp lifted its holdings in shares of Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after purchasing an additional 6,777,771 shares during the last quarter. Cardano Risk Management B.V. boosted its position in Palantir Technologies by 917.4% during the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock valued at $1,170,596,000 after purchasing an additional 5,938,343 shares during the period. Corient Private Wealth LLC boosted its position in Palantir Technologies by 1,449.7% during the 4th quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company’s stock valued at $937,205,000 after purchasing an additional 4,932,364 shares during the period. Finally, Amundi grew its stake in Palantir Technologies by 38.7% during the 3rd quarter. Amundi now owns 15,679,158 shares of the company’s stock worth $2,814,879,000 after buying an additional 4,373,201 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

Palantir Technologies Price Performance

PLTR opened at $132.38 on Friday. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $207.52. The stock has a market cap of $317.36 billion, a P/E ratio of 148.74, a P/E/G ratio of 2.15 and a beta of 1.56. The stock’s 50 day moving average price is $132.20 and its 200 day moving average price is $144.30.

Palantir Technologies (NASDAQ:PLTR) last announced 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. 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 for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $0.13 EPS. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on PLTR. Citigroup increased their target price on Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Oppenheimer began coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an “outperform” rating and a $200.00 price target for the company. DA Davidson restated a “buy” rating and set a $175.00 price target on shares of Palantir Technologies in a research report on Friday. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $90.00 price objective on shares of Palantir Technologies in a report on Tuesday, May 5th. Finally, BNP Paribas Exane started coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They issued an “underperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.85.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 17,128 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 transaction of $2,330,093.12. Following the sale, the insider directly owned 375,242 shares in the company, valued at $51,047,921.68. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 $43,523,821.36. Following the completion of the sale, the insider directly owned 592 shares of the company’s stock, valued at $80,535.68. The trade was a 99.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is owned by corporate insiders.

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.