Lord, Abbett 13F: Cuts PLTR Stake by $4.4M

Lord, Abbett has reduced its position in Palantir Technologies Inc. (NasdaqGS: PLTR) by 34,253 shares, according to its latest Form 13F filing with the SEC. As of the reporting period, the fund holds 1,187,960 shares valued at approximately $159.1 million.

What Changed in Lord, Abbett's Palantir Position

Lord, Abbett trimmed its holdings in Palantir, moving from 1,222,213 shares to 1,187,960 shares, a decrease of about 2.8%. This reduction reflects a strategic adjustment in their investment portfolio.

Other Institutional Activity in Palantir

BlackRock, Inc. reduced its Palantir holdings by 4,336,516 shares, ending with 188,990,971 shares valued at about $27.6 billion. Vanguard Capital Management LLC, however, added significantly to its position, now holding 144,837,529 shares worth around $21.2 billion. State Street Corp also trimmed its stake by 758,723 shares, holding 101,626,594 shares valued at approximately $14.9 billion. Meanwhile, Geode Capital Management, LLC increased its position by 1,671,067 shares, finishing with 55,871,332 shares valued at about $8.1 billion.

Palantir Technologies Inc. Stock Down 36.1%

Shares of Palantir Technologies Inc. (NasdaqGS: PLTR) were trading near $133.9. The company boasts a market capitalization of $322.9 billion and a P/E ratio of 149.68, with a forward P/E of 64.75. Palantir's stock has ranged between $122.68 and $207.52 over the past 52 weeks, with its 50-day moving average at $139.36 and a 200-day moving average of $160.31. The company's beta sits at 1.515, indicating its stock is more volatile than the market.

Recent Earnings

In its latest financial results, Palantir reported revenue of $5.22 billion, reflecting a growth rate of 84.7%. The company's net margin was 43.7%, while its return on equity stood at 32.6%. Palantir's earnings per share were $0.90. Investors can look forward to the next earnings report on August 3, 2026.

Insider Buying and Selling at Palantir Technologies Inc.

Recent insider activity at Palantir includes sales by Chief Accounting Officer Jeffrey Buckley, who sold 1,481 shares at an average price of $128.8 on June 11, 2026, in a planned transaction. Conversely, Alexandra Schiff, Eric Woersching, Alexander Moore, and Lauren Elaina Friedman Stat each acquired 2,118 shares on June 4, 2026, in non-planned purchases.

Analysts Set New Price Targets

On June 5, 2026, Rosenblatt maintained its buy rating on Palantir with a price target of $225. Citigroup also maintained a buy rating with the same target on May 6, 2026. Argus Research upgraded Palantir to a buy with a $190 target on the same day. RBC Capital reiterated a sell rating with a $90 target on May 5, 2026. The consensus among 27 analysts is a buy rating, with a mean target price of $182.75.

About Palantir Technologies

Palantir Technologies Inc., headquartered in Aventura, Florida, develops software platforms for intelligence and defense operations. The company offers solutions like Palantir Gotham and Foundry, which help organizations integrate and analyze data for decision-making. Led by CEO Dr. Alexander C. Karp, Palantir employs about 4,395 people and serves clients worldwide.

Bottom Line

Lord, Abbett's recent reduction in its Palantir position is a notable shift among institutional investors. As always, 13F filings provide a historical snapshot of holdings and may not reflect current positions. Investors and analysts continue to watch Palantir closely, given its prominent role in the tech industry and mixed analyst opinions.