Ancora Advisors LLC Sells 54,786 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Ancora Advisors LLC significantly reduced its stake in Palantir Technologies by selling 54,786 shares, representing a 73% decrease in ownership, leaving them with 20,283 shares valued at approximately $1.71 million.
• Several other investors also adjusted their positions, with Mechanics Financial Corp and Wealth Preservation Advisors LLC both acquiring new stakes worth around $25,000 and $27,000, respectively.
• Palantir Technologies reported a net margin of 22.18% with quarterly revenue growth of 48% year-over-year, outperforming analysts' expectations with earnings of $0.16 per share against a consensus of $0.14.

Ancora Advisors LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 73.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,283 shares of the company's stock after selling 54,786 shares during the quarter. Ancora Advisors LLC's holdings in Palantir Technologies were worth $1,712,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies in the 1st quarter valued at $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies during the first quarter worth $27,000. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the first quarter worth $33,000. Finally, Cornerstone Planning Group LLC boosted its stake 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 valued at $33,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

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 shares were sold at an average price of $155.75, for a total transaction of $24,945,543.00. Following the completion of the transaction, the insider owned 592 shares in the company, valued at $92,204. The trade was a 99.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,990,586 shares of company stock valued at $295,423,583. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 0.8%

Palantir Technologies stock opened at $156.14 on Friday. The firm has a market cap of $370.42 billion, a P/E ratio of 520.48, a P/E/G ratio of 8.73 and a beta of 2.59. The business has a fifty day moving average of $156.55 and a two-hundred day moving average of $124.44. Palantir Technologies Inc. has a twelve month low of $29.50 and a twelve month high of $190.00.

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

Analysts Set New Price Targets

PLTR has been the topic of several recent analyst reports. Loop Capital raised their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. Bank of America raised their price objective on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $136.61.

About Palantir Technologies

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.

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