FORA Capital LLC Lowers Stake in Palantir Technologies Inc. $PLTR

Key Points

• FORA Capital LLC has reduced its stake in Palantir Technologies by 36.5%, now holding approximately 0.9% of its portfolio in the company, equating to $9.15 million at the end of Q1.
• Several hedge funds have increased their positions in Palantir, with Goldman Sachs boosting its stake by 38.5% and Price T. Rowe Associates seeing a 55.2% increase during the same period.
• Palantir Technologies reported a revenue growth of 48% year-over-year, with $1 billion in revenue for the last quarter, surpassing analyst expectations of $939.29 million.

FORA Capital LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 36.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 108,435 shares of the company's stock after selling 62,243 shares during the period. Palantir Technologies makes up approximately 0.9% of FORA Capital LLC's investment portfolio, making the stock its 14th largest position. FORA Capital LLC's holdings in Palantir Technologies were worth $9,152,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Northern Trust Corp boosted its position in shares of Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after purchasing an additional 64,973 shares during the period. Invesco Ltd. boosted its position in shares of Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after purchasing an additional 571,544 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 9,211 shares of Palantir Technologies stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total transaction of $1,434,613.25. Following the completion of the sale, the insider directly owned 343,518 shares of the company's stock, valued at approximately $53,502,928.50. The trade was a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 160,164 shares of Palantir Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $24,945,543.00. Following the sale, the insider directly owned 592 shares of the company's stock, valued at approximately $92,204. This trade represents a 99.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,906,783 shares of company stock worth $282,471,442. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 1.0%

Palantir Technologies stock opened at $157.17 on Tuesday. The stock has a market cap of $372.86 billion, a P/E ratio of 523.92, a price-to-earnings-growth ratio of 8.95 and a beta of 2.60. The company has a fifty day simple moving average of $153.92 and a 200-day simple moving average of $122.31. Palantir Technologies Inc. has a 12-month low of $29.31 and a 12-month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PLTR shares. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Royal Bank Of Canada increased their target price 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. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and set a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $136.61.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.