First Manhattan CO. LLC. Acquires 2,249 Shares of Palantir Technologies Inc. $PLTR

Key Points

• First Manhattan CO. LLC. increased its stake in Palantir Technologies by 81.8%, acquiring an additional 2,249 shares for a total of 4,999 shares valued at $422,000.
• Multiple analysts have raised their price targets for Palantir Technologies, with Goldman Sachs setting a new target of $141.00 and Bank of America updating theirs to $180.00.
• Palantir's recent earnings report showed a 48% year-over-year revenue increase, with earnings per share of $0.16, surpassing analysts' expectations of $0.14.

First Manhattan CO. LLC. boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 81.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,999 shares of the company's stock after purchasing an additional 2,249 shares during the quarter. First Manhattan CO. LLC.'s holdings in Palantir Technologies were worth $422,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mechanics Financial Corp purchased a new stake in Palantir Technologies during the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at about $27,000. 1248 Management LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at about $27,000. Cornerstone Planning Group LLC grew its position in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at about $33,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PLTR. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Royal Bank Of Canada raised 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. Finally, Bank of America increased their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Four 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Trading Down 1.4%

NASDAQ PLTR opened at $154.90 on Thursday. 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 $367.48 billion, a price-to-earnings ratio of 516.35, a PEG ratio of 8.83 and a beta of 2.59. The company's 50 day moving average is $156.31 and its two-hundred day moving average is $124.19.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 8,047 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total transaction of $1,253,320.25. Following the sale, the insider owned 474,399 shares in the company, valued at approximately $73,887,644.25. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Buckley sold 2,803 shares of the firm'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 transaction of $440,071.00. Following the sale, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. The trade was a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,909,586 shares of company stock worth $282,911,513 in the last 90 days. 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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