Hodges Capital Management Inc. Sells 78,008 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Hodges Capital Management Inc. has reduced its stake in Palantir Technologies Inc. by 35.6%, selling 78,008 shares to own a total of 140,894 shares, worth approximately $11.89 million.
• Several institutional investors have adjusted their positions in Palantir Technologies, with 45.65% of the stock now owned by such investors.
• Recent insider transactions included a significant sale by Shyam Sankar of 375,000 shares, reducing his ownership by 34.79%, amidst a broader trend where insiders have sold over 1.6 million shares in recent months.

Hodges Capital Management Inc. trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 35.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,894 shares of the company's stock after selling 78,008 shares during the quarter. Palantir Technologies makes up about 1.2% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 21st largest holding. Hodges Capital Management Inc.'s holdings in Palantir Technologies were worth $11,891,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Allegiance Financial Group Advisory Services LLC grew its position in Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after buying an additional 84 shares during the period. Delta Investment Management LLC grew its position in Palantir Technologies by 1.9% during the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock valued at $398,000 after buying an additional 90 shares during the period. Sovran Advisors LLC grew its position in Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after buying an additional 94 shares during the period. Lodestone Wealth Management LLC grew its position in Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares during the period. Finally, Continuum Advisory LLC grew its position in Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,604,634 shares of company stock valued at $245,441,454. 9.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their price target for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Cantor Fitzgerald lifted 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. Finally, Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $136.61.

Palantir Technologies Stock Performance

PLTR stock opened at $164.36 on Friday. Palantir Technologies Inc. has a one year low of $34.53 and a one year high of $190.00. The company's fifty day moving average price is $159.32 and its 200-day moving average price is $126.29. The company has a market capitalization of $389.92 billion, a PE ratio of 547.88, a price-to-earnings-growth ratio of 9.40 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released 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 net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The company'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. On average, research analysts predict 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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