Cadinha & Co. LLC Increases Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Cadinha & Co. LLC increased its stake in Palantir Technologies by 8.3% during the second quarter, owning a total of 65,065 shares worth about $8.87 million.
• Several hedge funds also initiated positions in Palantir Technologies, contributing to institutional investors and hedge funds owning 45.65% of the company’s stock.
• Recent insider selling saw Shyam Sankar and Jeffrey Buckley sell a combined total of 32,803 shares, indicating a decrease in their ownership stakes.

Cadinha & Co. LLC grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 65,065 shares of the company's stock after acquiring an additional 4,986 shares during the period. Palantir Technologies comprises 1.5% of Cadinha & Co. LLC's investment portfolio, making the stock its 23rd biggest holding. Cadinha & Co. LLC's holdings in Palantir Technologies were worth $8,870,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies during the first quarter worth about $25,000. Signature Resources Capital Management LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in Palantir Technologies in the 1st quarter valued at approximately $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies in the first quarter worth $27,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth $28,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. The trade was a 4.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the transaction, the insider directly owned 50,961 shares of the company's stock, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,557,750 shares of company stock worth $239,713,896. 9.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on PLTR shares. Piper Sandler upped their price target on Palantir Technologies from $182.00 to $201.00 and gave the stock an "overweight" rating in a report on Tuesday, October 14th. UBS Group restated a "neutral" rating and issued a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Mizuho set a $165.00 price target on Palantir Technologies in a report on Monday, September 15th. Citigroup restated a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Five 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $141.28.

Palantir Technologies Stock Down 0.1%

PLTR opened at $175.34 on Thursday. Palantir Technologies Inc. has a 52 week low of $40.90 and a 52 week high of $190.00. The business has a 50 day moving average price of $171.21 and a two-hundred day moving average price of $144.89. The company has a market cap of $415.95 billion, a PE ratio of 584.47, a P/E/G ratio of 9.84 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 (EPS) for the quarter, beating 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 business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company'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, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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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