Palantir Racks Up New AI Clients from Law to Construction, but Insiders Dump $126 Million in Shares

Strong revenue growth and major AI deals with Google Cloud and Kirkland & Ellis fail to offset insider selling and technical breakdown, sending shares down 12.25% to €117.74.

Palantir’s commercial machine is firing on all cylinders, yet its stock can’t catch a break. Shares of the data analytics firm closed the week at €117.74 on Friday, suffering a 12.25% decline that pushed the price 34.6% below the November peak of €179.98. Since the start of the year, the equity has shed 17.7% of its value, and the slide has taken it below the 50-day moving average — a technical breach that has chart watchers on edge.

Inside the company, however, the selling has been anything but technical. Over the past 90 days, insiders have unloaded roughly 926,000 shares worth around $126 million. Chief executive Alex Karp, president Shyam Sankar, and CFO Ryan D. Taylor were among the most active sellers in May, adding a layer of skepticism to a valuation that already looks stretched — the forward price-to-earnings multiple ranges from 110 to 154, depending on the calculation.

That insider activity came just as Palantir was unveiling a flurry of partnerships at its AIPCon 10 conference on June 4. The most significant was an expanded alliance with Google Cloud, linking Palantir’s Foundry platform with BigQuery and connecting its AIP system to the Gemini large language model. Another headline-grabbing deal was a multi-year pact with Kirkland & Ellis, the global law firm that in 2025 oversaw client funds worth nearly $500 billion. Together they are building an AI platform tailored to private-equity fundraising, automating legal documents and contract monitoring for more than 1,000 Kirkland attorneys.

Two other contracts added commercial heft. Mexican insurer GNP Seguros signed a million-dollar agreement — Palantir’s first major push into Latin America — while U.S. construction giant McCarthy Building adopted Palantir’s "Pulse" system for project management. The company also disclosed that during the first quarter it closed nearly 50 large contracts each valued at more than $10 million.

Those wins are backed by exceptional growth numbers. First-quarter revenue came in at $1.63 billion, a 84.7% surge from a year earlier, and the U.S. commercial business more than doubled with 133% growth. Adjusted earnings per share of $0.33 beat analyst forecasts by five cents, leading management to raise the full-year outlook.

Yet none of that has been enough to silence the bears. Rosenblatt analyst John McPeake remains an outlier with his $225 price target and "buy" rating, pointing to the Google Cloud relationship and the sheer scale of demand for Palantir’s AI platforms. The consensus, however, is a "moderate buy" with an average price target between $185 and $193 — still implying more than a third of upside from current levels, but far from a unanimous endorsement.

On the other side of the debate is Michael Burry, who has flagged a head-and-shoulders pattern on the chart, a classic reversal signal that suggests further downside. The technical picture already looks fragile: the long-term average at €138.14 is well above the market price, and the next support level is the 52-week low of €104.86. Resistance lies at €120.78, a level that could be tested if the selling abates.

All of this points to a stock that is being driven more by macro currents than operating performance. The broader technology sell-off, fueled by rising bond yields and a strong U.S. payrolls report (172,000 jobs added), has hit Palantir disproportionately hard. The Nasdaq Composite lost 4.7% over the week. Later this week, the May consumer price index arrives, followed by producer prices the next day. Softer inflation numbers could reignite risk appetite and push Palantir back toward its resistance level. A hotter reading, however, risks pushing the shares toward the 52-week low.

For now, Palantir finds itself caught between an extraordinary commercial story and a market that refuses to pay up. The inside selling only adds to the tension, leaving investors to weigh the company’s undeniable deal-making momentum against the weight of valuation and a hawkish interest-rate outlook.