Islay Capital Management LLC Sells 16,099 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Islay Capital Management LLC reduced its stake in Palantir Technologies by 51.2%, selling 16,099 shares and retaining 15,315 shares valued at approximately $1.29 million.
• Insider Alexander C. Karp sold 222,878 shares for over $33.7 million, while insider Stephen Andrew Cohen sold 191,720 shares, reflecting significant decreases in their ownership percentages.
• Palantir reported a fiscal quarter with a net revenue of $1 billion, exceeding analysts' expectations, and set earnings guidance for FY 2025.

Islay Capital Management LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 51.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,315 shares of the company's stock after selling 16,099 shares during the quarter. Islay Capital Management LLC's holdings in Palantir Technologies were worth $1,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the first quarter valued at approximately $25,000. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC increased its holdings 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 valued at $33,000 after acquiring an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after acquiring an additional 125 shares in the last quarter. Finally, Capital Analysts LLC increased its holdings in shares of Palantir Technologies by 97.1% during the first quarter. Capital Analysts LLC now owns 406 shares of the company's stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 222,878 shares of the company'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 $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. This represents a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 191,720 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider directly owned 592 shares in the company, valued at $89,611.04. This represents a 99.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,906,783 shares of company stock worth $282,471,442 over the last 90 days. Company insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $158.74 on Friday. The company has a market capitalization of $376.59 billion, a PE ratio of 529.15, a price-to-earnings-growth ratio of 8.95 and a beta of 2.60. The business has a fifty day moving average price of $153.61 and a two-hundred day moving average price of $121.91. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLTR. Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and set a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada upped their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $136.61.

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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