Palantir Technologies Inc. $PLTR Stock Holdings Lessened by Groupama Asset Managment

Key Points

• Groupama Asset Management reduced its holdings in Palantir Technologies by 13.5%, owning 24,046 shares worth approximately $2,064,000 after selling 3,766 shares in the first quarter.
• Several hedge funds, including Goldman Sachs and Invesco, increased their stakes in Palantir, indicating strong interest from institutional investors, with hedge funds owning 45.65% of the stock.
• Palantir's recent quarterly earnings beat expectations, reporting $1 billion in revenue and $0.16 EPS, reflecting a 48.0% increase in revenue compared to the same quarter last year.

Groupama Asset Managment reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,046 shares of the company's stock after selling 3,766 shares during the period. Groupama Asset Managment's holdings in Palantir Technologies were worth $2,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLTR. Assenagon Asset Management S.A. boosted its position in shares of Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after buying an additional 6,479 shares during the period. Garrison Bradford & Associates Inc. acquired a new position in shares of Palantir Technologies during the first quarter worth approximately $45,000. Menard Financial Group LLC boosted its position in shares of Palantir Technologies by 8.2% during the first quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock worth $2,189,000 after buying an additional 1,964 shares during the period. TCW Group Inc. boosted its position in shares of Palantir Technologies by 14.5% during the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after buying an additional 4,068 shares during the period. Finally, Sagespring Wealth Partners LLC boosted its position in shares of Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the subject of several analyst reports. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Loop Capital boosted their price objective on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, DA Davidson set a $170.00 price objective on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $136.61.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Glazer sold 8,047 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $1,253,320.25. Following the completion of the transaction, the insider directly owned 474,399 shares in the company, valued at $73,887,644.25. This represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,906,783 shares of company stock valued at $282,471,442 over the last 90 days. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 1.6%

NASDAQ:PLTR traded up $2.56 during midday trading on Friday, hitting $158.74. 101,782,072 shares of the stock were exchanged, compared to its average volume of 77,128,816. Palantir Technologies Inc. has a one year low of $29.31 and a one year high of $190.00. The company has a market capitalization of $376.59 billion, a price-to-earnings ratio of 529.15, a P/E/G ratio of 8.80 and a beta of 2.60. The business has a 50-day moving average price of $153.61 and a two-hundred day moving average price of $121.77.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The firm'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. Sell-side analysts forecast 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.