Cornerstone Enterprises LLC Purchases 24,360 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Cornerstone Enterprises LLC increased its holdings in Palantir Technologies Inc. by 55.3%, acquiring 24,360 shares to reach a total of 68,448 shares, valued at approximately $9.33 million.
• Insiders at Palantir Technologies have sold a total of 1,591,085 shares worth about $244.71 million over the last ninety days, reflecting a notable decrease in their ownership.
• Palantir Technologies reported strong quarterly results with $1 billion in revenue, surpassing expectations of $939 million, alongside an earnings per share of $0.16.

Cornerstone Enterprises LLC grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 55.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,448 shares of the company's stock after purchasing an additional 24,360 shares during the period. Palantir Technologies accounts for about 5.0% of Cornerstone Enterprises LLC's investment portfolio, making the stock its 7th largest position. Cornerstone Enterprises LLC's holdings in Palantir Technologies were worth $9,331,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PLTR. Revolve Wealth Partners LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $450,000. Bison Wealth LLC raised its stake in shares of Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after purchasing an additional 4,667 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of Palantir Technologies by 10.3% during the first quarter. Daymark Wealth Partners LLC now owns 10,678 shares of the company's stock valued at $901,000 after purchasing an additional 998 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Palantir Technologies by 65.8% during the first quarter. Farther Finance Advisors LLC now owns 37,917 shares of the company's stock valued at $3,211,000 after purchasing an additional 15,054 shares during the period. Finally, Pallas Capital Advisors LLC grew its position in shares of Palantir Technologies by 103.1% during the first quarter. Pallas Capital Advisors LLC now owns 16,326 shares of the company's stock worth $1,378,000 after buying an additional 8,286 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the insider owned 702,786 shares of the company's stock, valued at $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Buckley sold 2,803 shares of the company's 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 sale, the insider directly owned 50,961 shares of the company's stock, valued at $8,000,877. The trade was a 5.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,591,085 shares of company stock valued at $244,714,146. Insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $183.56 on Thursday. The company has a market capitalization of $435.47 billion, a price-to-earnings ratio of 611.89, a P/E/G ratio of 9.87 and a beta of 2.60. Palantir Technologies Inc. has a fifty-two week low of $40.36 and a fifty-two week high of $190.00. The business's 50-day moving average is $170.35 and its 200-day moving average is $138.57.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results 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 company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PLTR shares. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Loop Capital lifted their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus price target of $140.22.

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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