1,974 Shares in Palantir Technologies Inc. $PLTR Acquired by Sutton Place Investors LLC

Key Points

• Sutton Place Investors LLC acquired 1,974 shares of Palantir Technologies, valuing the purchase at approximately $269,000.
• Palantir Technologies reported a revenue of $1 billion for the last quarter, exceeding analyst estimates and marking a 48% increase from the previous year.
• Insider Stephen Andrew Cohen sold 191,720 shares in August, a significant decrease in their ownership, alongside substantial sales by other insiders totaling over 1.5 million shares in the past ninety days.

Sutton Place Investors LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,974 shares of the company's stock, valued at approximately $269,000.

Several other hedge funds have also modified their holdings of the stock. Christensen King & Associates Investment Services Inc. lifted its position in Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after buying an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its position in Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after buying an additional 73 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in Palantir Technologies by 3.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock valued at $329,000 after buying an additional 80 shares in the last quarter. Oxinas Partners Wealth Management LLC lifted its position in Palantir Technologies by 2.7% during the second quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company's stock valued at $410,000 after buying an additional 80 shares in the last quarter. Finally, Optima Capital LLC lifted its position in Palantir Technologies by 0.6% during the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock valued at $1,066,000 after buying an additional 81 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLTR. Royal Bank Of Canada lifted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, UBS Group reiterated a "neutral" rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $140.22.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the sale, the insider owned 592 shares of the company's stock, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

PLTR stock opened at $173.07 on Friday. Palantir Technologies Inc. has a 1-year low of $38.78 and a 1-year high of $190.00. The firm has a fifty day moving average price of $168.90 and a two-hundred day moving average price of $136.98. The firm has a market cap of $410.58 billion, a price-to-earnings ratio of 576.92, a PEG ratio of 9.66 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its 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. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm's revenue for the quarter was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts expect 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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.