1832 Asset Management L.P. Has $56.46 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• 1832 Asset Management L.P. has reduced its holdings in Palantir Technologies by 36.8%, now owning 669,000 shares valued at $56.46 million following the sale of 389,150 shares.
• Palantir Technologies reported $1 billion in revenue for the last quarter, exceeding estimates and showing a 48% year-over-year increase.
• Wall Street analysts have mixed views on Palantir, with four analysts rating it a Buy and others giving it Hold or Sell ratings, reflecting an average price target of $136.61.

1832 Asset Management L.P. cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 36.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 669,000 shares of the company's stock after selling 389,150 shares during the period. 1832 Asset Management L.P.'s holdings in Palantir Technologies were worth $56,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies during the first quarter worth approximately $25,000. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies during the first quarter worth approximately $33,000. Cornerstone Planning Group LLC lifted its position in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares during the last quarter. Finally, Capital Analysts LLC raised its stake in shares of Palantir Technologies by 97.1% during the first quarter. Capital Analysts LLC now owns 406 shares of the company's stock worth $34,000 after buying an additional 200 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the completion of the sale, the insider owned 363,755 shares of the company's stock, valued at approximately $49,219,689.05. This represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,906,783 shares of company stock worth $282,471,442 over the last ninety days. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Bank of America boosted their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. UBS Group reissued a "neutral" rating and set a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $136.61.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $2.56 during trading hours on Friday, hitting $158.74. The stock had a trading volume of 101,782,072 shares, compared to its average volume of 79,335,152. Palantir Technologies Inc. has a one year low of $29.31 and a one year high of $190.00. The company has a market cap of $376.59 billion, a price-to-earnings ratio of 529.15, a P/E/G ratio of 8.95 and a beta of 2.60. The business's 50 day moving average is $153.61 and its 200-day moving average is $121.98.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business's quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.