Parallel Advisors LLC Sells 5,485 Shares of Palantir Technologies Inc. $PLTR

Parallel Advisors LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 200,825 shares of the company’s stock after selling 5,485 shares during the quarter. Palantir Technologies accounts for approximately 0.7% of Parallel Advisors LLC’s investment portfolio, making the stock its 24th largest holding. Parallel Advisors LLC’s holdings in Palantir Technologies were worth $35,697,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 0.7% in 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 boosted 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 valued at $18,471,648,000 after purchasing an additional 6,777,771 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 1.5% in the 4th 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 in the last quarter. Norges Bank bought a new position in shares of Palantir Technologies in the 4th quarter valued at $5,149,641,000. Finally, Invesco Ltd. raised its holdings in shares of Palantir Technologies by 5.9% during the 3rd quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock worth $3,976,534,000 after buying an additional 1,213,529 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Palantir announced an expanded partnership with Google Cloud that connects Foundry and AIP with Gemini and BigQuery, and makes Palantir available on Google Cloud Marketplace, which could broaden adoption and distribution. Palantir Announces Availability on Google Cloud Marketplace, Including Two-Way Integrations between BigQuery and Foundry and Deep Connectivity between Gemini and AIP
• Positive Sentiment: The company also unveiled several new enterprise deals at AIPCon 10, including a multi-year partnership with Kirkland & Ellis, a strategic deal with McCarthy Building Companies, and an expansion agreement with GNP Seguros, reinforcing commercial momentum beyond government contracts. GNP Seguros Announces Enterprise Expansion of Palantir Foundry and AIP Across All Lines of Business
• Positive Sentiment: Palantir said customer demos at AIPCon 10 are highlighting real-world deployments of Foundry, AIP, Ontology, and Apollo, which supports the bull case that its AI platform is seeing meaningful usage in production. Palantir Customers Reveal How AI Amplifies Their Tradecraft at AIPCon 10
• Neutral Sentiment: Analysts and commentators are also debating whether recent volatility is just a pause after a strong run or a warning sign that Palantir’s rich valuation leaves little room for error. Is It Time To Reconsider Palantir Technologies (PLTR) After Recent Volatility And Rich Earnings Multiple
• Negative Sentiment: Michael Burry renewed his bearish stance on Palantir, adding to valuation skepticism and likely contributing to some near-term pressure on the stock. Michael Burry Takes Aim at Palantir Stock Again, But He’s Missing the Bigger Picture
• Negative Sentiment: Separate reports also noted criticism of Palantir’s U.K. NHS contract, which keeps regulatory and political risk in focus for investors. Palantir’s £330M NHS deal faces criticism from UK parliamentarians

Analysts Set New Price Targets

Several analysts recently weighed in on the company. DA Davidson dropped their price objective on Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Citigroup upped their price objective on Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Argus upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Wednesday, May 6th. Freedom Capital upgraded Palantir Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, February 13th. Finally, DZ Bank assumed coverage on Palantir Technologies in a research report on Thursday, April 23rd. They set 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 given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.76.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $141.70 on Friday. The company has a fifty day moving average of $141.19 and a 200-day moving average of $154.99. The company has a market capitalization of $339.70 billion, a PE ratio of 159.22, a price-to-earnings-growth ratio of 2.26 and a beta of 1.53. Palantir Technologies Inc. has a 52-week low of $118.93 and a 52-week high of $207.52.

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. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. On average, equities analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 17,128 shares of the company’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 $2,330,093.12. Following the completion of the transaction, 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 sale 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 company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the transaction, the insider owned 199,759 shares of the company’s stock, valued at $27,175,214.36. This trade represents a 8.96% decrease in their ownership of the stock. 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 ninety days, insiders sold 925,789 shares of company stock valued at $126,007,032. 9.53% of the stock is owned by company insiders.

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.