OMERS ADMINISTRATION Corp Decreases Holdings in Palantir Technologies Inc. $PLTR

Key Points

• OMERS ADMINISTRATION Corp decreased its holdings in Palantir Technologies by 25.6%, now owning 91,033 shares worth approximately $7.7 million after selling 31,292 shares in the first quarter.
• Palantir Technologies reported a 48% year-over-year revenue increase with earnings of $0.16 per share, surpassing analysts' expectations of $0.14.
• Several analysts have adjusted their price targets for Palantir, with Piper Sandler setting a target of $182.00 and Royal Bank of Canada adjusting its target to $45.00, reflecting varied outlooks on the stock's performance.

OMERS ADMINISTRATION Corp cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 25.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 91,033 shares of the company's stock after selling 31,292 shares during the period. OMERS ADMINISTRATION Corp's holdings in Palantir Technologies were worth $7,683,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Allegiance Financial Group Advisory Services LLC increased its stake in shares of Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after buying an additional 84 shares during the period. Delta Investment Management LLC increased its stake 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 valued at $398,000 after buying an additional 90 shares during the period. Sovran Advisors LLC increased its stake in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after buying an additional 94 shares during the period. Lodestone Wealth Management LLC increased its stake in shares of Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares during the period. Finally, Continuum Advisory LLC increased its stake in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $158.12 on Friday. The company has a market cap of $375.11 billion, a P/E ratio of 527.08, a PEG ratio of 8.83 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year high of $190.00. The stock's fifty day moving average price is $155.07 and its 200-day moving average price is $123.10.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion during 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 revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PLTR shares. Piper Sandler set a $182.00 target price on Palantir Technologies in a research note on Tuesday, August 5th. Royal Bank Of Canada upped their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group upped their price target on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average target price of $136.61.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 160,164 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $24,945,543.00. Following the completion of the sale, the insider owned 592 shares in the company, valued at approximately $92,204. This represents a 99.63% 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. Also, insider David A. Glazer sold 8,047 shares of the company's stock in a transaction on 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 sale, the insider owned 474,399 shares of the company's stock, valued at approximately $73,887,644.25. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,906,783 shares of company stock valued at $282,471,442 in the last 90 days. 9.23% of the stock is owned by company insiders.

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.

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