Mandatum Life Insurance Co Ltd Lowers Stake in Palantir Technologies Inc. $PLTR

Key Points

• Mandatum Life Insurance Co Ltd reduced its position in Palantir Technologies by 30.3%, owning 19,537 shares valued at approximately $2.66 million after selling 8,494 shares in the 2nd quarter.
• Palantir's recent earnings report showed an EPS of $0.16, exceeding analyst expectations, with quarterly revenue up 48% year-over-year to $1 billion.
• Analysts have raised their price targets for Palantir Technologies, with upgrades from several firms; Cantor Fitzgerald and Bank of America set new targets at $155 and $180 respectively.

Mandatum Life Insurance Co Ltd cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 30.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,537 shares of the company's stock after selling 8,494 shares during the period. Mandatum Life Insurance Co Ltd's holdings in Palantir Technologies were worth $2,663,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Optima Capital LLC increased its holdings in shares of Palantir Technologies by 0.6% in the 1st quarter. Optima Capital LLC now owns 12,626 shares of the company's stock valued at $1,066,000 after acquiring an additional 81 shares during the last quarter. Allegiance Financial Group Advisory Services LLC boosted its stake in Palantir Technologies by 3.0% during the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares in the last quarter. Delta Investment Management LLC raised its holdings in shares of Palantir Technologies by 1.9% during the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock worth $398,000 after acquiring an additional 90 shares in the last quarter. Sovran Advisors LLC grew its position in Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after buying an additional 94 shares in the last quarter. Finally, Lodestone Wealth Management LLC lifted its holdings in Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after buying an additional 97 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 375,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at $106,261,243.20. This represents a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the sale, the insider owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,625,634 shares of company stock valued at $248,926,404 in the last ninety days. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Up 3.1%

Shares of PLTR traded up $5.42 during midday trading on Friday, reaching $182.39. 108,970,930 shares of the stock were exchanged, compared to its average volume of 60,474,068. The company has a market cap of $432.69 billion, a P/E ratio of 607.99, a PEG ratio of 10.28 and a beta of 2.59. The stock's 50 day simple moving average is $163.32 and its 200 day simple moving average is $130.19. Palantir Technologies Inc. has a twelve month low of $35.71 and a twelve month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released 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. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter last year, the firm posted $0.09 EPS. The company's revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PLTR shares. Royal Bank Of Canada lifted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Mizuho set a $165.00 price objective on shares of Palantir Technologies in a research report on Monday, September 15th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and upped their price target for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $138.28.

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.