Oak Harvest Investment Services Sells 3,576 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Oak Harvest Investment Services has reduced its stake in Palantir Technologies by 12.4%, selling 3,576 shares, leaving them with a total of 25,152 shares valued at approximately $2.123 million.
• Palantir Technologies reported a quarterly revenue of $1 billion, exceeding analysts' expectations, and achieved an earnings per share (EPS) of $0.16, which beat the consensus estimate by $0.02.
• Several analysts have updated their price targets for Palantir Technologies, with Loop Capital raising its target to $180.00 and DA Davidson setting it at $170.00, while many analysts still maintain a "Hold" rating for the stock.

Oak Harvest Investment Services decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,152 shares of the company's stock after selling 3,576 shares during the period. Oak Harvest Investment Services' holdings in Palantir Technologies were worth $2,123,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PLTR. Northern Trust Corp grew its position in shares of Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after buying an additional 64,973 shares during the period. Invesco Ltd. boosted its stake in Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after acquiring an additional 2,998,716 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after purchasing an additional 571,544 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after purchasing an additional 4,748,513 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Up 1.6%

Shares of Palantir Technologies stock opened at $158.74 on Friday. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00. The business has a 50 day moving average price of $153.61 and a 200-day moving average price of $121.91. The company has a market cap 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.

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

Analysts Set New Price Targets

Several analysts have recently commented on PLTR shares. DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Loop Capital raised their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Finally, Cantor Fitzgerald increased their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $136.61.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 8,047 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $1,253,320.25. Following the completion of the sale, the insider owned 474,399 shares in the company, valued at $73,887,644.25. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business's 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 transaction, the insider owned 702,786 shares in the company, valued at approximately $112,129,506.30. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,906,783 shares of company stock worth $282,471,442. 9.23% of the stock is owned by insiders.

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.

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