Palantir Technologies Inc. $PLTR is Empirical Capital Management LLC's Largest Position

Key Points

• Empirical Capital Management LLC is consolidating its position in Palantir Technologies, owning 15.9% of its portfolio in the company after reducing its stake by 7% in the first quarter.
• Palantir Technologies reported earnings per share of $0.16 for the last quarter, exceeding analysts' expectations of $0.14, with a significant revenue increase of 48% year-over-year.
• Several institutions have increased their holdings in Palantir Technologies, with Price T Rowe Associates Inc. leading with a 55.2% increase during the first quarter.

Empirical Capital Management LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 7.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,000 shares of the company's stock after selling 20,000 shares during the quarter. Palantir Technologies accounts for 15.9% of Empirical Capital Management LLC's portfolio, making the stock its largest position. Empirical Capital Management LLC's holdings in Palantir Technologies were worth $22,366,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Northern Trust Corp lifted its position in shares of Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after purchasing an additional 64,973 shares in the last quarter. Invesco Ltd. grew its holdings in Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $1,149,055,000 after acquiring an additional 571,544 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $1,126,408,000 after acquiring an additional 4,748,513 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $153.11 on Monday. The stock has a market cap of $363.23 billion, a PE ratio of 510.38, a PEG ratio of 8.63 and a beta of 2.59. The business has a fifty day moving average of $157.00 and a two-hundred day moving average of $124.86. Palantir Technologies Inc. has a 52-week low of $29.50 and a 52-week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (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%.The business's revenue was up 48.0% on a year-over-year basis. During the same period 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. Analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies 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 completion of the transaction, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. The trade was a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total value of $5,000,250.00. Following the completion of the transaction, the insider directly owned 363,755 shares of the company's stock, valued at $54,563,250. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,973,586 shares of company stock valued at $293,225,653. Insiders own 12.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PLTR shares. Bank of America raised their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Loop Capital raised their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and set a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Four research 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. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $136.61.

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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