Hartline Investment Corp Sells 40,723 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Hartline Investment Corp has reduced its stake in Palantir Technologies by 21.9%, selling 40,723 shares, and now owns 145,260 shares valued at approximately $19.8 million.
• Multiple analysts have updated their target prices for Palantir, with Cantor Fitzgerald raising its target from $110 to $155 and Piper Sandler increasing it from $182 to $201, while the average price target stands at $141.28.
• Insider trading activity reveals significant sales, with insiders having sold over 1.5 million shares worth approximately $239.7 million in the last three months, indicating potential shifts in investor confidence.

Hartline Investment Corp lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 21.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,260 shares of the company's stock after selling 40,723 shares during the quarter. Palantir Technologies comprises 2.2% of Hartline Investment Corp's portfolio, making the stock its 15th biggest holding. Hartline Investment Corp's holdings in Palantir Technologies were worth $19,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mechanics Financial Corp bought a new position in shares of Palantir Technologies in the first quarter worth about $25,000. Signature Resources Capital Management LLC purchased a new stake in shares of Palantir Technologies during the second 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. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth about $28,000. Institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Cantor Fitzgerald increased their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada increased their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Piper Sandler increased their target price on Palantir Technologies from $182.00 to $201.00 and gave the stock an "overweight" rating in a research report on Tuesday. Five 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's stock. According to MarketBeat.com, Palantir Technologies has an average rating of "Hold" and an average price target of $141.28.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total value of $149,112.00. Following the completion of the sale, the director directly owned 62,087 shares of the company's stock, valued at $11,572,395.93. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Buckley sold 2,803 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares of the company's stock, valued at $8,000,877. The trade was a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,557,750 shares of company stock worth $239,713,896. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $178.15 on Friday. The stock has a market capitalization of $422.63 billion, a PE ratio of 593.85, a P/E/G ratio of 9.66 and a beta of 2.60. The business has a 50 day simple moving average of $171.52 and a two-hundred day simple moving average of $142.87. Palantir Technologies Inc. has a 1-year low of $40.90 and a 1-year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating 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 return on equity of 10.75% and a net margin of 22.18%.The firm's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate 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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