Palantir Technologies Inc. $PLTR Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. has reduced its stake in Palantir Technologies by 2.9%, selling 19,920 shares to hold a total of 664,236 shares valued at approximately $56 million.
• Several hedge funds have recently acquired shares of Palantir, with institutional investors now owning 45.65% of the stock.
• Analysts have mixed ratings for Palantir, with a consensus target price of $136.61, highlighting expectations for growth despite differing price objectives from major banks.

Corebridge Financial Inc. cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 664,236 shares of the company's stock after selling 19,920 shares during the quarter. Corebridge Financial Inc.'s holdings in Palantir Technologies were worth $56,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mechanics Financial Corp acquired a new position in Palantir Technologies in the first quarter valued at approximately $25,000. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC boosted its holdings in Palantir Technologies by 90.2% in 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 in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings in Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares in the last quarter. Finally, Capital Analysts LLC boosted its holdings in Palantir Technologies by 97.1% in the first quarter. Capital Analysts LLC now owns 406 shares of the company's stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $3.70 during midday trading on Tuesday, hitting $160.87. 86,226,519 shares of the company's stock were exchanged, compared to its average volume of 80,484,800. The firm's 50 day simple moving average is $154.37 and its 200 day simple moving average is $122.57. Palantir Technologies Inc. has a 12-month low of $29.31 and a 12-month high of $190.00. The stock has a market cap of $381.64 billion, a price-to-earnings ratio of 536.25, a price-to-earnings-growth ratio of 8.86 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results 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. 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 the consensus estimate of $939.29 million. During the same period last year, the company earned $0.09 earnings per share. The company's revenue for the quarter 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. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 160,164 shares of the 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 of the company's stock, valued at $92,204. This trade represents a 99.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Buckley sold 1,076 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $167,587.00. Following the sale, the insider directly owned 53,764 shares of the company's stock, valued at approximately $8,373,743. This represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,906,783 shares of company stock valued at $282,471,442. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PLTR shares. Wall Street Zen raised Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Royal Bank Of Canada upped their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $136.61.

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.