Iron Gate Global Advisors LLC Increases Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Iron Gate Global Advisors LLC increased its stake in Palantir Technologies by 206.8% in Q1, acquiring 41,965 additional shares, bringing their total holdings to 62,258 shares worth approximately $5.25 million.
• Several institutional investors, including Chelsea Counsel Co. and Acadian Asset Management LLC, made significant increases in their stakes in Palantir, with Acadian boosting its holdings by 224.0%.
• Palantir reported a 48.0% increase in quarterly revenue year-over-year, achieving $1 billion for the most recent quarter and exceeding analysts' revenue estimates.

Iron Gate Global Advisors LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 206.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,258 shares of the company's stock after purchasing an additional 41,965 shares during the period. Palantir Technologies accounts for 0.7% of Iron Gate Global Advisors LLC's holdings, making the stock its 21st biggest position. Iron Gate Global Advisors LLC's holdings in Palantir Technologies were worth $5,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies in the 1st quarter valued at $27,000. 1248 Management LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth $27,000. Cornerstone Planning Group LLC grew its holdings in shares of Palantir Technologies by 90.2% during the 1st 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. Finally, Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth $33,000. Institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PLTR shares. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and upped their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Royal Bank Of Canada raised their price objective 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 note on Tuesday, August 5th. Cantor Fitzgerald raised their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price objective on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Four equities 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $136.61.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 160,164 shares of Palantir Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $24,945,543.00. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at approximately $92,204. The trade was a 99.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies 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 owned 50,961 shares of the company's stock, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,604,634 shares of company stock valued at $245,441,454. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 4.3%

Palantir Technologies stock traded up $7.07 during mid-day trading on Friday, reaching $171.43. 54,323,535 shares of the company's stock were exchanged, compared to its average volume of 75,542,352. The firm has a market capitalization of $406.69 billion, a PE ratio of 571.45, a P/E/G ratio of 9.26 and a beta of 2.59. The business's fifty day simple moving average is $160.07 and its 200 day simple moving average is $126.87. Palantir Technologies Inc. has a one year low of $34.89 and a one year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business's revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Profile

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.