Canada Pension Plan Investment Board Sells 887,656 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Canada Pension Plan Investment Board reduced its stake in Palantir Technologies by 28.5% during the first quarter, holding approximately 2,231,585 shares worth $188,346,000 after selling 887,656 shares.
• Palantir's stock has experienced fluctuations, with a twelve month low of $29.31 and a high of $190.00, currently trading at around $156.71.
• Palantir Technologies recently reported a 48.0% increase in revenue year-over-year, totaling $1 billion for the quarter, while beating analysts' earnings estimates.

Canada Pension Plan Investment Board decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 28.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,231,585 shares of the company's stock after selling 887,656 shares during the quarter. Canada Pension Plan Investment Board owned 0.10% of Palantir Technologies worth $188,346,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after buying an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after acquiring an additional 571,544 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Palantir Technologies by 55.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Up 0.4%

Shares of NASDAQ:PLTR traded up $0.67 during trading on Tuesday, hitting $157.38. 57,051,326 shares of the company were exchanged, compared to its average volume of 91,334,969. The business's 50 day moving average is $155.80 and its 200-day moving average is $123.74. The company has a market capitalization of $373.35 billion, a P/E ratio of 525.01, a price-to-earnings-growth ratio of 8.83 and a beta of 2.59. Palantir Technologies Inc. has a 1-year low of $29.31 and a 1-year high of $190.00.

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

Insider Buying and Selling

In related news, insider David A. Glazer sold 8,047 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $1,253,320.25. Following the sale, the insider owned 474,399 shares of the company's stock, valued at $73,887,644.25. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 160,164 shares of the business's stock in a transaction 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 directly owned 592 shares in the company, valued at approximately $92,204. This represents a 99.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,906,783 shares of company stock valued at $282,471,442 over the last quarter. 12.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PLTR shares. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. UBS Group restated a "neutral" rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Royal Bank Of Canada boosted their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald boosted their price objective on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.