Cornerstone Management Inc. Invests $282,000 in Palantir Technologies Inc. $PLTR

Key Points

• Cornerstone Management Inc. invested approximately $282,000 in Palantir Technologies, acquiring 2,067 shares in the second quarter.
• Palantir Technologies reported a 48% increase in quarterly revenue year-over-year, reaching $1 billion, while beating earnings estimates with a reported $0.16 EPS.
• Insiders have sold 1,557,750 shares of Palantir stock valued at approximately $239.7 million over the last ninety days, indicating potential shifts in shareholder confidence.

Cornerstone Management Inc. purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,067 shares of the company's stock, valued at approximately $282,000.

Several other large investors also recently added to or reduced their stakes in PLTR. Mechanics Financial Corp bought a new stake in Palantir Technologies during the first quarter valued at approximately $25,000. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies during the second quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies during the first quarter valued at approximately $27,000. 1248 Management LLC bought a new stake in Palantir Technologies during the first quarter valued at approximately $27,000. Finally, Briaud Financial Planning Inc bought a new stake in Palantir Technologies during the second quarter valued at approximately $27,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 2.8%

PLTR stock opened at $180.48 on Friday. Palantir Technologies Inc. has a 52 week low of $40.90 and a 52 week high of $190.00. The company has a fifty day simple moving average of $171.20 and a two-hundred day simple moving average of $145.60. The firm has a market capitalization of $428.16 billion, a P/E ratio of 601.62, a price-to-earnings-growth ratio of 9.51 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the business earned $0.09 earnings per share. Palantir Technologies's quarterly revenue 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, analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price target on shares of Palantir Technologies from $182.00 to $201.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Mizuho set a $165.00 price target on shares of Palantir Technologies in a research report on Monday, September 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price target for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $141.28.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the sale, the insider owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 375,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the sale, the insider directly owned 702,786 shares in the company, valued at approximately $106,261,243.20. This represents a 34.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,750 shares of company stock valued at $239,713,896 over the last ninety days. Corporate insiders own 9.23% of the company's stock.

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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