Gotham Asset Management LLC Boosts Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Gotham Asset Management LLC increased its holdings in Palantir Technologies by 27.7%, owning 309,263 shares valued at approximately $26.1 million at the end of the first quarter.
• Insider Shyam Sankar sold 405,000 shares for $53.5 million, representing a 36.56% decrease in ownership, while Stephen Andrew Cohen sold 191,720 shares, reducing his position by 99.69%.
• Palantir's latest earnings report showed a 48% year-over-year revenue increase to $1 billion, exceeding analyst expectations and pushing earnings per share to $0.16.

Gotham Asset Management LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 309,263 shares of the company's stock after buying an additional 67,089 shares during the period. Gotham Asset Management LLC's holdings in Palantir Technologies were worth $26,102,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies during the first quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Palantir Technologies during the first quarter worth about $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies during the first quarter worth about $27,000. Cornerstone Planning Group LLC boosted its holdings in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the period. Finally, Richardson Capital Management LLC purchased a new stake in shares of Palantir Technologies during the first quarter worth about $33,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. This represents a 99.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,990,586 shares of company stock valued at $295,423,583. 9.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a report on Tuesday, August 5th. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Loop Capital increased their target price 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. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, 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. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Price Performance

Shares of PLTR opened at $156.14 on Friday. Palantir Technologies Inc. has a one year low of $29.50 and a one year high of $190.00. The company has a 50-day simple moving average of $156.55 and a two-hundred day simple moving average of $124.44. The firm has a market capitalization of $370.42 billion, a PE ratio of 520.48, a price-to-earnings-growth ratio of 8.73 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period last year, the business posted $0.09 earnings per share. Palantir Technologies's quarterly 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. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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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