JAT Capital Mgmt LP Invests $16.55 Million in Palantir Technologies Inc. $PLTR

Key Points

• JAT Capital Management LP has acquired a new stake in Palantir Technologies, purchasing 196,131 shares valued at approximately $16.55 million, making Palantir 5.9% of their portfolio.
• Palantir Technologies reported earnings of $0.16 EPS, surpassing the consensus estimate and showing a 48% increase in revenue year-over-year, with a total revenue of $1 billion for the quarter.
• Multiple brokerages have recently raised their price targets for Palantir, with Goldman Sachs increasing theirs from $90.00 to $141.00, reflecting growing analyst confidence in the stock.

JAT Capital Mgmt LP purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 196,131 shares of the company's stock, valued at approximately $16,553,000. Palantir Technologies accounts for approximately 5.9% of JAT Capital Mgmt LP's investment portfolio, making the stock its 8th largest holding.

Several other large investors also recently modified their holdings of PLTR. Revolve Wealth Partners LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $450,000. Bison Wealth LLC lifted its position in shares of Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after buying an additional 4,667 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Palantir Technologies by 256.5% during the 4th quarter. Aptus Capital Advisors LLC now owns 47,736 shares of the company's stock worth $3,610,000 after buying an additional 34,344 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Palantir Technologies by 4.5% during the 4th quarter. Ameriprise Financial Inc. now owns 2,481,386 shares of the company's stock worth $187,666,000 after buying an additional 107,159 shares during the period. Finally, BNP Paribas lifted its position in shares of Palantir Technologies by 10.5% during the 4th quarter. BNP Paribas now owns 6,770 shares of the company's stock worth $515,000 after buying an additional 643 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 160,164 shares of the stock in a transaction dated 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 transaction, the insider owned 592 shares of the company's stock, valued at approximately $92,204. This trade represents a 99.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,909,586 shares of company stock worth $282,911,513 over the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

PLTR traded down $2.19 during trading on Wednesday, reaching $154.90. 65,915,110 shares of the company's stock were exchanged, compared to its average volume of 80,174,704. The company's fifty day moving average price is $156.31 and its 200-day moving average price is $124.19. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The firm has a market capitalization of $367.48 billion, a PE ratio of 516.35, a P/E/G ratio of 8.83 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly 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. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the previous year, the business earned $0.09 EPS. The firm's revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PLTR. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Loop Capital lifted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Bank of America lifted their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Company 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.