Empowered Funds LLC Sells 2,760 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Empowered Funds LLC reduced its holdings in Palantir Technologies Inc. by 3.2%, selling 2,760 shares, and now owns 82,209 shares valued at approximately $6.94 million.
• However, several other institutional investors have increased their stakes in Palantir, with notable increases from Bison Wealth LLC (up 37.4%) and Jacobs Levy Equity Management (up 120.2%) during the fourth quarter.
• Palantir reported a 48% increase in quarterly revenue year-over-year, reaching $1 billion, and beat earnings estimates with an EPS of $0.16, compared to expectations of $0.14.

Empowered Funds LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,209 shares of the company's stock after selling 2,760 shares during the quarter. Empowered Funds LLC's holdings in Palantir Technologies were worth $6,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in Palantir Technologies in the 4th quarter worth about $450,000. Bison Wealth LLC grew its holdings 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 worth $1,296,000 after purchasing an additional 4,667 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Palantir Technologies by 120.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 16,583 shares of the company's stock worth $1,254,000 after purchasing an additional 9,052 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its position in shares of Palantir Technologies by 12.6% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 17,896 shares of the company's stock worth $1,353,000 after purchasing an additional 2,007 shares during the last quarter. Finally, Napa Wealth Management purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $302,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 222,878 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at $973,650,893.46. This represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,604,634 shares of company stock valued at $245,441,454 over the last quarter. Company insiders own 9.23% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 target price on Palantir Technologies in a research note on Tuesday, August 5th. Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. UBS Group reiterated a "neutral" rating and issued a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Trading Up 2.7%

PLTR opened at $166.74 on Thursday. Palantir Technologies Inc. has a 12 month low of $33.62 and a 12 month high of $190.00. The business's 50-day moving average price is $158.72 and its 200-day moving average price is $125.78. The company has a market cap of $395.56 billion, a P/E ratio of 555.82, a P/E/G ratio of 9.15 and a beta of 2.59.

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 the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.

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