Osterweis Capital Management Inc. Sells 1,975 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Osterweis Capital Management Inc. reduced its stake in Palantir Technologies by 15.8%, selling 1,975 shares in the first quarter, bringing its total holdings to 10,517 shares worth approximately $888,000.
• Significant insider selling occurred, with Jeffrey Buckley and David A. Glazer selling 2,803 and 81,000 shares respectively, reflecting a decrease in their ownership stakes.
• Multiple analysts have issued ratings for Palantir, with a consensus rating of "Hold" and an average price target of $136.61.

Osterweis Capital Management Inc. cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 15.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,517 shares of the company's stock after selling 1,975 shares during the period. Osterweis Capital Management Inc.'s holdings in Palantir Technologies were worth $888,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Mechanics Financial Corp acquired a new position in Palantir Technologies during the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies during the first quarter worth approximately $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies during the first quarter worth approximately $27,000. Cornerstone Planning Group LLC raised its stake in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the first quarter worth approximately $33,000. 45.65% of the stock is owned by institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares of the company's stock, valued at $8,000,877. This represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,604,634 shares of company stock valued at $245,441,454 over the last three months. Insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Citigroup reissued a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Finally, Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Four research 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $164.36 on Friday. The company has a 50 day moving average price of $159.32 and a two-hundred day moving average price of $126.29. Palantir Technologies Inc. has a 52 week low of $34.53 and a 52 week high of $190.00. The company has a market capitalization of $389.92 billion, a PE ratio of 547.88, a PEG ratio of 9.40 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same period in the prior year, the business earned $0.09 EPS. Palantir Technologies's revenue for the quarter 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. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.

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