Ionic Capital Management LLC Acquires Shares of 3,734 Palantir Technologies Inc. $PLTR

Key Points

• Ionic Capital Management LLC acquired a stake of 3,734 shares in Palantir Technologies, valued at approximately $315,000, during the first quarter.
• Insider trading activity includes a significant sale by Shyam Sankar, who sold 30,000 shares for nearly $4.79 million, reducing their ownership by 4.09%.
• Palantir reported a 48% increase in revenue year-over-year, with Q2 earnings per share beating estimates at $0.16 compared to expectations of $0.14.

Ionic Capital Management LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,734 shares of the company's stock, valued at approximately $315,000.

Other hedge funds have also recently modified their holdings of the company. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the 1st quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at approximately $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at approximately $27,000. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the first quarter worth approximately $33,000. Finally, Cornerstone Planning Group LLC increased its position 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 in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies 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 sale, the insider owned 702,786 shares in the company, valued at $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Buckley sold 2,803 shares of the company's stock in a transaction 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 transaction, the insider directly owned 50,961 shares in the company, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,990,586 shares of company stock valued at $295,423,583 over the last 90 days. Corporate insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLTR. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Finally, Citigroup reissued a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four investment 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $136.61.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $156.14 on Friday. The firm's 50-day moving average is $156.55 and its two-hundred day moving average is $124.44. Palantir Technologies Inc. has a 12 month low of $29.50 and a 12 month high of $190.00. The company 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 posted 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 net margin of 22.18% and a return on equity of 10.75%. The business's revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS. 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 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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