Palantir Technologies Inc. $PLTR Position Lessened by Capital Market Strategies LLC

Key Points

• Capital Market Strategies LLC reduced its holdings in Palantir Technologies Inc. by 14.0%, owning 32,685 shares after selling 5,313 shares in the second quarter.
• Several institutional investors made notable changes in their positions, including Goldman Sachs Group Inc. increasing its stake by 38.5% during the first quarter.
• Palantir's stock is currently rated as a "Hold" by the consensus of analysts, with an average price target of $136.61.

Capital Market Strategies LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,685 shares of the company's stock after selling 5,313 shares during the quarter. Palantir Technologies accounts for approximately 3.1% of Capital Market Strategies LLC's investment portfolio, making the stock its 6th biggest holding. Capital Market Strategies LLC's holdings in Palantir Technologies were worth $4,456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Crumly & Associates Inc. bought a new position in shares of Palantir Technologies in the second quarter valued at approximately $536,000. Harbor Investment Advisory LLC grew its stake in Palantir Technologies by 3.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 6,188 shares of the company's stock valued at $844,000 after purchasing an additional 202 shares during the period. Kera Capital Partners Inc. grew its stake in Palantir Technologies by 38.9% in the 2nd quarter. Kera Capital Partners Inc. now owns 3,964 shares of the company's stock valued at $540,000 after purchasing an additional 1,111 shares during the period. Private Client Services LLC increased its position in shares of Palantir Technologies by 111.9% during the 2nd quarter. Private Client Services LLC now owns 8,387 shares of the company's stock valued at $1,143,000 after purchasing an additional 4,429 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Palantir Technologies during the 1st quarter worth $6,568,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 4.3%

Shares of PLTR stock traded up $7.07 during trading on Friday, reaching $171.43. 54,323,535 shares of the company's stock traded hands, compared to its average volume of 75,252,840. The firm's 50-day moving average is $160.07 and its 200 day moving average is $127.42. The company has a market capitalization of $406.69 billion, a P/E ratio of 571.45, a PEG ratio of 9.66 and a beta of 2.59. Palantir Technologies Inc. has a 1 year low of $34.89 and a 1 year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. During the same period in the previous 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, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PLTR. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. UBS Group reissued a "neutral" rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research report 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. Finally, Bank of America increased their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Four 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. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $136.61.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,604,634 shares of company stock worth $245,441,454 in the last 90 days. 12.93% of the stock is owned by company insiders.

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.