Exchange Traded Concepts LLC Raises Stake in Palantir Technologies Inc. $PLTR

Key Points

• Exchange Traded Concepts LLC significantly increased its stake in Palantir Technologies by 1,148.8% in the 2nd quarter, acquiring an additional 314,360 shares to hold a total of 341,725 shares.
• Palantir's recent quarterly earnings exceeded expectations with a reported EPS of $0.16 and a revenue of $1 billion, reflecting a 48% year-over-year growth.
• Insider trading activity has generated notable sales, including a significant transaction from insider Shyam Sankar, who sold 375,000 shares worth approximately $56.7 million.

Exchange Traded Concepts LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1,148.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 341,725 shares of the company's stock after purchasing an additional 314,360 shares during the quarter. Palantir Technologies accounts for 0.6% of Exchange Traded Concepts LLC's investment portfolio, making the stock its 28th biggest position. Exchange Traded Concepts LLC's holdings in Palantir Technologies were worth $46,584,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Marshall Financial Group LLC purchased a new position in Palantir Technologies in the 2nd quarter worth $249,000. Weinberger Asset Management Inc bought a new stake in Palantir Technologies in the 2nd quarter worth $339,000. Park Capital Management LLC WI bought a new stake in Palantir Technologies in the 2nd quarter worth $661,000. Fulton Bank N.A. bought a new stake in Palantir Technologies in the 2nd quarter worth $401,000. Finally, Vista Investment Partners LLC grew its holdings in Palantir Technologies by 2.3% in the 2nd quarter. Vista Investment Partners LLC now owns 9,245 shares of the company's stock worth $1,260,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the transaction, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 375,000 shares of Palantir Technologies stock in a transaction dated 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 transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,625,634 shares of company stock worth $248,926,404 over the last 90 days. 9.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLTR shares. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Loop Capital raised their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a 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, Royal Bank Of Canada raised their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued 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 an average price target of $138.28.

Palantir Technologies Stock Up 5.1%

Shares of PLTR traded up $8.64 during trading hours on Thursday, reaching $176.97. 70,565,358 shares of the company traded hands, compared to its average volume of 61,669,568. The company's fifty day moving average price is $162.51 and its two-hundred day moving average price is $129.24. The company has a market capitalization of $419.83 billion, a price-to-earnings ratio of 589.92, a price-to-earnings-growth ratio of 9.49 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $35.71 and a 12 month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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 firm had revenue of $1 billion for 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%. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Company 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.