Amova Asset Management Americas Inc. Trims Stock Holdings in Palantir Technologies Inc. $PLTR

Amova Asset Management Americas Inc. reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,688,322 shares of the company’s stock after selling 157,256 shares during the quarter. Palantir Technologies comprises 3.5% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 7th biggest position. Amova Asset Management Americas Inc. owned 0.07% of Palantir Technologies worth $246,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PLTR. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $450,000. Bison Wealth LLC boosted its position in shares of Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after purchasing an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 38.0% in the 1st quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after buying an additional 4,722 shares during the period. Schnieders Capital Management LLC. grew its holdings in shares of Palantir Technologies by 36.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock valued at $858,000 after buying an additional 1,694 shares during the period. Finally, Vivaldi Capital Management LP bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at $315,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Several articles argue Palantir’s long-term growth case remains intact, pointing to its expanding AI software footprint and the strength of its AIP platform. Palantir: The Stock Is Richly Valued With a Forward P/S Multiple of Over 40x, but Is the Growth Story Still Worth Buying Into?
• Positive Sentiment: Commentary from top investors and market watchers says Palantir’s business momentum and product expansion could support further gains despite the stock’s premium valuation. It’s Not Crazy, Says Top Investor About Palantir Stock
• Positive Sentiment: Another piece says Palantir keeps defying skeptics with a string of earnings beats and a raised outlook, reinforcing the idea that fundamentals are still improving. Predicition: Palantir Defies Doubters. Here’s Our New Price Target
• Neutral Sentiment: Palantir is also being widely searched and discussed, which shows elevated investor interest but does not by itself change the outlook.
• Neutral Sentiment: Several articles revisit the stock’s big run from its IPO and its recent pullback, keeping focus on valuation and volatility rather than any new company-specific catalyst.

Insider Activity

In other news, insider Alexander C. Karp sold 397,744 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. This trade represents a 5.82% decrease in their position. The sale was disclosed in a legal filing 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 David A. Glazer sold 17,128 shares of Palantir Technologies stock in a transaction that occurred 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 in the company, valued at $51,047,921.68. This trade represents a 4.37% 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. Over the last quarter, insiders have sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $134.85 on Tuesday. The firm has a market cap of $323.28 billion, a price-to-earnings ratio of 151.52, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56. The stock’s 50-day moving average is $132.16 and its 200-day moving average is $143.69. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the company earned $0.13 earnings per share. Palantir Technologies’s quarterly revenue was up 84.7% on a year-over-year basis. On average, equities analysts expect that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the topic of several recent analyst reports. President Capital upgraded Palantir Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $25.50 to $133.00 in a report on Monday, June 29th. UBS Group upgraded Palantir Technologies from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. Mizuho dropped their price target on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Benchmark cut Palantir Technologies to a “hold” rating in a report on Tuesday, June 16th. Finally, BTIG Research lowered Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.85.

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.