Jennison Associates LLC Sells 2,049,179 Shares of Palantir Technologies Inc. $PLTR

Jennison Associates LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 19.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,711,763 shares of the company’s stock after selling 2,049,179 shares during the quarter. Jennison Associates LLC’s holdings in Palantir Technologies were worth $1,016,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Palantir Technologies during the fourth quarter valued at $5,149,641,000. Arrowstreet Capital Limited Partnership increased its position in Palantir Technologies by 277.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock worth $1,528,143,000 after purchasing an additional 7,678,747 shares during the period. State Street Corp increased its position in Palantir Technologies by 7.2% in the third 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 period. Cardano Risk Management B.V. raised its holdings 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 worth $1,170,596,000 after purchasing an additional 5,938,343 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings 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 worth $937,205,000 after purchasing an additional 4,932,364 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Northland Securities set a $200.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 4th. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Wednesday, May 6th. Roth Capital initiated coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They issued a “buy” rating on the stock. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $80.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $204.00 target price on shares of Palantir Technologies in a report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $192.19.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $174.04 on Monday. The firm has a market capitalization of $418.23 billion, a price-to-earnings ratio of 148.75, a PEG ratio of 2.48 and a beta of 1.59. The company’s 50 day simple moving average is $134.60 and its 200 day simple moving average is $139.96. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business’s quarterly revenue was up 92.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post 1.26 EPS for the current fiscal year.

Palantir Technologies News Roundup

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

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 397,744 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 value of $54,109,093.76. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. The trade was a 5.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 sale, the insider owned 375,242 shares of the company’s stock, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,150,302 shares of company stock worth $156,197,565 over the last ninety days. Insiders own 9.53% of the company’s stock.

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.