Generali Asset Management SPA SGR Decreases Position in Palantir Technologies Inc. $PLTR

Key Points

• Generali Asset Management SPA SGR reduced its stake in Palantir Technologies Inc. by 17.1% during the second quarter, holding 73,961 shares valued at approximately $10.1 million.
• Palantir Technologies reported a revenue of $1 billion for the quarter, exceeding analysts' expectations and marking a 48% year-over-year increase in revenue.
• Insider trading at Palantir saw significant activity, with insiders selling a total of 1.6 million shares valued at around $240 million over the last quarter.

Generali Asset Management SPA SGR lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,961 shares of the company's stock after selling 15,247 shares during the quarter. Generali Asset Management SPA SGR's holdings in Palantir Technologies were worth $10,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the first quarter valued at $25,000. Signature Resources Capital Management LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies in the 1st quarter valued at about $27,000. 1248 Management LLC purchased a new stake in Palantir Technologies during the first quarter valued at about $27,000. Finally, Frazier Financial Advisors LLC purchased a new stake in Palantir Technologies during the second quarter valued at about $28,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 1.4%

Palantir Technologies stock opened at $179.74 on Wednesday. The stock has a market cap of $426.40 billion, a price-to-earnings ratio of 599.15, a PEG ratio of 9.61 and a beta of 2.60. The business has a 50-day simple moving average of $171.78 and a 200 day simple moving average of $141.31. Palantir Technologies Inc. has a 52 week low of $40.36 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same quarter last year, the company posted $0.09 EPS. The company's revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Royal Bank Of Canada lifted their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Mizuho set a $165.00 price target on Palantir Technologies in a report on Monday, September 15th. Finally, Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $141.28.

Insider Buying and Selling at Palantir Technologies

In related news, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the transaction, the insider owned 50,961 shares of the company's stock, valued at $8,000,877. This represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $186.39, for a total value of $149,112.00. Following the sale, the director directly owned 62,087 shares of the company's stock, valued at approximately $11,572,395.93. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,750 shares of company stock valued at $239,713,896 over the last quarter. Company insiders own 12.93% of the company's stock.

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.

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.