Oak Ridge Investments LLC Has $10.94 Million Stake in Palantir Technologies Inc. $PLTR

Key Points

• Oak Ridge Investments LLC has reduced its stake in Palantir Technologies (~4.9%) to approximately $10.94 million, owning 80,256 shares, which constitutes 0.8% of its portfolio.
• Palantir Technologies reported strong quarterly earnings, with $1 billion in revenue and $0.16 EPS, exceeding expectations and marking a 48% year-over-year revenue increase.
• Insiders have sold over 1.5 million shares of Palantir stock valued at approximately $244 million in the last 90 days, raising questions about insider confidence in the company's future performance.

Oak Ridge Investments LLC reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,256 shares of the company's stock after selling 4,136 shares during the quarter. Palantir Technologies accounts for 0.8% of Oak Ridge Investments LLC's portfolio, making the stock its 29th largest position. Oak Ridge Investments LLC's holdings in Palantir Technologies were worth $10,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of PLTR. Kingstone Capital Partners Texas LLC acquired a new position in Palantir Technologies during the second quarter worth $2,543,888,000. Nuveen LLC acquired a new position in Palantir Technologies during the first quarter worth $520,232,000. Price T Rowe Associates Inc. MD raised its stake in Palantir Technologies by 55.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares in the last quarter. Finally, Amundi raised its stake in Palantir Technologies by 56.1% during the first quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after acquiring an additional 3,815,386 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 5.4%

Palantir Technologies stock opened at $175.44 on Friday. The business's 50-day simple moving average is $171.32 and its 200 day simple moving average is $140.05. The stock has a market cap of $416.20 billion, a price-to-earnings ratio of 584.82, a P/E/G ratio of 9.51 and a beta of 2.60. Palantir Technologies Inc. has a 12-month low of $40.36 and a 12-month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted 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. The business 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%.The firm's quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider owned 307,470 shares in the company, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock valued at $244,714,146 over the last 90 days. Corporate insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLTR. Bank of America increased their price objective on Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Palantir Technologies in a research note on Wednesday. UBS Group restated a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Mizuho set a $165.00 target price on Palantir Technologies in a research note on Monday, September 15th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $140.22.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.