GraniteShares Advisors LLC Decreases Position in Palantir Technologies Inc. $PLTR

Key Points

• GraniteShares Advisors LLC has reduced its stake in Palantir Technologies by 24.7%, owning 12,922 shares valued at approximately $1.76 million after selling 4,248 shares during the second quarter.
• Palantir Technologies reported a strong quarterly earnings performance, with $1 billion in revenue, exceeding analyst expectations and showing a 48% year-over-year increase.
• In the first quarter, various hedge funds increased their stakes in Palantir, with Goldman Sachs Group Inc. leading with a 38.5% increase in its holdings.

GraniteShares Advisors LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 24.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,922 shares of the company's stock after selling 4,248 shares during the quarter. GraniteShares Advisors LLC's holdings in Palantir Technologies were worth $1,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in shares of Palantir Technologies by 0.3% in 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 in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Palantir Technologies during the second quarter valued at $2,543,888,000. Invesco Ltd. increased its holdings in Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after buying an additional 2,998,716 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after buying an additional 4,221,392 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Palantir Technologies by 4.4% in 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 buying an additional 571,544 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $177.57 on Monday. Palantir Technologies Inc. has a 1-year low of $36.05 and a 1-year high of $190.00. The company's fifty day simple moving average is $166.16 and its 200-day simple moving average is $134.01. The stock has a market capitalization of $421.26 billion, a PE ratio of 591.92, a P/E/G ratio of 9.91 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted 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 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 analyst estimates of $939.29 million. During the same period in the prior year, the business posted $0.09 EPS. Palantir Technologies's revenue 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. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the sale, the insider owned 307,470 shares in the company, valued at approximately $48,687,874.50. This trade represents a 10.49% 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 David A. Glazer sold 81,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,634,634 shares of company stock valued at $250,524,804. Company insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" 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. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 5th. Mizuho set a $165.00 price target on Palantir Technologies in a report on Monday, September 15th. Finally, Royal Bank Of Canada raised their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $140.22.

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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