Manchester Financial Inc. Sells 4,586 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Manchester Financial reduced its Palantir stake by 24.7%, selling 4,586 shares and retaining 14,001 shares valued at approximately $1.63 million. Institutional investors collectively own 45.65% of PLTR.
• Palantir reported strong quarterly results, with revenue rising 92.8% year over year to $1.94 billion and EPS of $0.41, beating analyst expectations. However, the stock’s valuation remains elevated at roughly 159 times earnings.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $192.19 price target, while recent insider selling—including a $86.1 million sale by CEO Alexander Karp—adds a potential cautionary signal.

Manchester Financial Inc. decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 24.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,001 shares of the company's stock after selling 4,586 shares during the quarter. Manchester Financial Inc.'s holdings in Palantir Technologies were worth $1,633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Basepoint Wealth LLC bought a new position in Palantir Technologies in the 4th quarter valued at $29,000. Ballast Advisors LLC bought a new stake in shares of Palantir Technologies during the first quarter worth $29,000. Cornerstone Financial Management LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $31,000. Whipplewood Advisors LLC bought a new position in shares of Palantir Technologies in the first quarter worth about $32,000. Finally, Prudent Man Investment Management Inc. purchased a new position in Palantir Technologies in the 4th quarter worth about $35,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 0.2%

Shares of PLTR opened at $186.29 on Friday. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The company has a market capitalization of $447.67 billion, a price-to-earnings ratio of 159.22, a PEG ratio of 2.63 and a beta of 1.59. The stock's 50-day moving average price is $143.76 and its 200-day moving average price is $142.05.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the firm earned $0.16 earnings per share. The business's revenue for the quarter was up 92.8% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 1.27 EPS for the current fiscal year.

Palantir Technologies News Summary

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Exceptional growth and profitability: Palantir’s Rule of 40 score reportedly reached 155%, supported by approximately 93% revenue growth and a 62% adjusted operating margin. The figures reinforce the bullish view that the company is converting AI demand into both rapid sales expansion and strong cash generation. Palantir's Rule of 40 Surge Signals Strong AI-Driven Performance
• Positive Sentiment: Defense AI momentum: Palantir’s Maven Smart System is approaching a $1 billion annual revenue run rate, while Pentagon funding and its designation as a program of record could support as much as $2.30 billion over five years. This gives investors greater visibility into a potentially significant government growth engine. Palantir's Pentagon AI Business Is Closing In on $1 Billion a Year
• Positive Sentiment: Strong technical and investor interest: PLTR recently broke out to a new high and was added to prominent best-stock and watch lists. Analysts and bullish commentators argue that the sovereign-AI opportunity and Palantir’s execution could justify price targets above current Wall Street estimates. Palantir, Nvidia Among 17 Stocks Rising Onto Best Stock Lists
• Neutral Sentiment: Covered-call strategies are being discussed after the recent rally, reflecting strong demand for PLTR exposure but also investor interest in generating income and potentially limiting downside.
• Negative Sentiment: Valuation remains a major risk: With Palantir trading at roughly 159 times earnings, some value investors view the stock as attractive only at a substantially lower price. Analysts also remain divided over whether its growth can justify the premium valuation. Value Investor Admits Palantir Cheaper Than Expected
• Negative Sentiment: Insider selling and AI concentration concerns: CEO Alexander Karp has sold nearly $86 million of stock, and co-founder Peter Thiel has reduced his stake over time. Separately, investor Steve Eisman warned that AI revenue at major cloud companies is heavily concentrated among OpenAI and Anthropic, raising questions about the durability of AI-related spending and valuations. NVIDIA, Palantir Technologies, and the AI Achilles' Heel

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,250 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $174.29, for a total value of $217,862.50. Following the completion of the sale, the insider owned 56,921 shares of the company's stock, valued at approximately $9,920,761.09. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 492,348 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $1,124,294,375.82. This trade represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 721,764 shares of company stock worth $117,080,858 in the last ninety days. Company insiders own 9.53% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of research analyst reports. William Blair reiterated an "outperform" rating on shares of Palantir Technologies in a research note on Wednesday. Benchmark restated a "hold" rating on shares of Palantir Technologies in a report on Tuesday, August 4th. UBS Group set a $215.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 11th. Mizuho lifted their target price on shares of Palantir Technologies from $185.00 to $215.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. Finally, Argus upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.19.

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source