Balefire LLC Takes $644,000 Position in Palantir Technologies Inc. $PLTR

Key Points

• Balefire LLC has recently taken a position in Palantir Technologies with a purchase of 4,723 shares valued at approximately $644,000.
• Palantir's quarterly earnings surpassed expectations, reporting $0.16 earnings per share against an estimate of $0.14, alongside a revenue of $1 billion.
• Insider trading has seen significant activity, with insiders selling over 1.6 million shares worth approximately $249 million in the last ninety days.

Balefire LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,723 shares of the company's stock, valued at approximately $644,000.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new position in Palantir Technologies during the first quarter valued at approximately $520,232,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after purchasing an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Amundi boosted its position in Palantir Technologies by 56.1% during the first quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after buying an additional 3,815,386 shares during the period. Finally, Invesco Ltd. boosted its position in Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after buying an additional 2,998,716 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $168.33 on Thursday. The stock's 50-day simple moving average is $161.82 and its two-hundred day simple moving average is $128.60. The stock has a market capitalization of $399.34 billion, a price-to-earnings ratio of 561.12, a PEG ratio of 9.60 and a beta of 2.59. Palantir Technologies Inc. has a 52-week low of $35.71 and a 52-week 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 the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PLTR shares. Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $138.28.

Insider Buying and Selling at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares in the company, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at approximately $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,625,634 shares of company stock worth $248,926,404. Insiders own 9.23% of the company's stock.

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.

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