TLDR
- Ken Griffin’s Citadel hedge fund cut its Palantir position by 40%, selling over 1.3 million shares in Q1 2026.
- PLTR is down 36% year-to-date and nearly 45% below its November record high, opening at $112.93 on Monday.
- Q1 revenue came in at $1.63 billion, up 84.7% year-over-year, beating analyst estimates of $1.54 billion.
- Analyst consensus is a Moderate Buy with an average price target of $192.76, implying roughly 70% upside from current levels.
- ARK Invest bought approximately $3.3 million in PLTR during the recent dip, while institutions overall own 45.65% of the stock.
Palantir (PLTR) opened at $112.93 on Monday, down 36% year-to-date and nearly 45% off its all-time high of $207.52 hit last November. It snapped a seven-session losing streak with a roughly 5% bounce on Friday, but the stock remains under heavy pressure.
Palantir Technologies Inc., PLTR
Ken Griffin’s Citadel, the $68 billion hedge fund, trimmed its PLTR position by 40% in Q1, offloading 1,330,855 shares. That’s a notable reduction from one of Wall Street’s most closely watched firms.
But Griffin wasn’t alone in moving. Insiders were selling too. CEO Alexander Karp sold 397,744 shares on May 20th at an average price of $136.04, reducing his position by 5.82%. Insider Stephen Cohen sold 319,934 shares the same day — nearly wiping out his entire stake, a 99.82% reduction. Both sales were made to cover tax obligations related to vesting equity awards.
In total, insiders sold 927,270 shares worth over $126 million in the last quarter.
What the Bulls Are Saying
Not everyone is heading for the exits. Wolfe analyst Alex Zukin, ranked in the top 3% on Wall Street, says Palantir has the “best product market fit of any enterprise software company in the market today” and the “largest and fastest growth rates in the industry.”
Zukin’s core argument is that today’s AI models are smart, but they lack the business context needed for real enterprise use. That’s where Palantir steps in — its Ontology database ingests workflow dependencies and restructures them for mission-critical applications.
His take? Great business, tough entry point. He rates the stock Peer Perform (Neutral) with no fixed price target.
ARK Invest disagrees. Cathie Wood’s firm bought roughly $3.3 million in PLTR during the recent selloff, leaning into the “buy the dip” case as the stock hit 52-week lows.
Apollon Wealth Management also added to its position in Q1, buying 5,479 shares and bringing its total to 110,714 shares worth approximately $16.2 million.
Valuation Is the Sticking Point
PLTR carries a P/E ratio of 126.89 and a market cap of $270.73 billion. Even after the selloff, most analysts agree: it’s still the most expensive name in software.
Q1 results were strong — EPS of $0.33 beat the $0.28 estimate, and revenue of $1.63 billion topped the $1.54 billion forecast. The firm posted a net margin of 43.67% and return on equity of 28.34%.
Analyst Ratings Snapshot
The Street currently sits at 2 Strong Buys, 17 Buys, 12 Holds, and 3 Sells. The consensus is Moderate Buy with an average target of $192.76 — roughly 70% above Monday’s open.
Benchmark downgraded PLTR to Hold on June 16th. Argus upgraded it to Buy in May with a $190 target. Phillip Securities lifted its target from $190 to $202 on May 11th.
The 52-week range sits between $106.37 and $207.52.
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