Adage Capital Partners GP L.L.C. Trims Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Adage Capital Partners reduced its stake in Palantir Technologies by selling 47,200 shares, bringing its total holdings down to about 1.87 million shares valued at approximately $157.77 million.
• Several analysts have changed their price targets for Palantir Technologies, with Bank of America raising their target from $150 to $180, while Royal Bank of Canada set a lower goal of $45.
• Palantir announced strong quarterly earnings, reporting $0.16 EPS which beat analysts' expectations, along with a revenue increase of 48% year-over-year, totaling $1 billion.

Adage Capital Partners GP L.L.C. lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,869,300 shares of the company's stock after selling 47,200 shares during the period. Adage Capital Partners GP L.L.C. owned 0.08% of Palantir Technologies worth $157,769,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies during the 1st quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. Richardson Capital Management LLC purchased a new position in shares of Palantir Technologies during the 1st quarter worth $33,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 0.8%

PLTR stock traded up $1.24 during trading on Thursday, hitting $156.14. 53,197,741 shares of the company's stock were exchanged, compared to its average volume of 91,018,859. The business has a 50-day moving average price of $156.31 and a two-hundred day moving average price of $124.19. The stock has a market capitalization of $370.42 billion, a price-to-earnings ratio of 520.48, a PEG ratio of 8.83 and a beta of 2.59. Palantir Technologies Inc. has a 52-week low of $29.50 and a 52-week high of $190.00.

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

Insider Activity

In related news, insider Stephen Andrew Cohen sold 160,164 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $24,945,543.00. Following the completion of the sale, the insider owned 592 shares in the company, valued at $92,204. The trade was a 99.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 9,211 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $1,434,613.25. Following the sale, the insider owned 343,518 shares of the company's stock, valued at approximately $53,502,928.50. The trade was a 2.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,909,586 shares of company stock valued at $282,911,513 over the last 90 days. Insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PLTR shares. Loop Capital lifted their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on Palantir Technologies in a research report on Tuesday, August 5th. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $136.61.

Palantir Technologies Company 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.