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

Key Points

• Firsthand Capital Management Inc. has reduced its stake in Palantir Technologies Inc. by 13.3%, now holding 65,000 shares, which constitutes about 13.3% of its investment portfolio.
• Palantir reported a quarterly EPS of $0.16, surpassing analysts' estimates of $0.14, alongside a revenue of $1 billion, marking a 48.0% increase from the previous year.
• Insider trading activity showed significant selling, with insiders offloading 1,906,783 shares worth approximately $282 million in the last 90 days.

Firsthand Capital Management Inc. cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,000 shares of the company's stock after selling 10,000 shares during the period. Palantir Technologies makes up 13.3% of Firsthand Capital Management Inc.'s holdings, making the stock its largest position. Firsthand Capital Management Inc.'s holdings in Palantir Technologies were worth $5,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of PLTR. Quarry LP lifted its stake in Palantir Technologies by 197.8% in the 1st quarter. Quarry LP now owns 9,262 shares of the company's stock valued at $782,000 after acquiring an additional 6,152 shares in the last quarter. Calton & Associates Inc. boosted its holdings in Palantir Technologies by 84.0% in the 1st quarter. Calton & Associates Inc. now owns 6,411 shares of the company's stock valued at $541,000 after purchasing an additional 2,926 shares during the period. Saudi Central Bank bought a new position in Palantir Technologies in the 1st quarter valued at approximately $70,000. DRW Securities LLC increased its stake in shares of Palantir Technologies by 41.2% in the first quarter. DRW Securities LLC now owns 22,623 shares of the company's stock valued at $1,909,000 after buying an additional 6,599 shares during the period. Finally, Centric Wealth Management increased its stake in shares of Palantir Technologies by 27.3% in the 1st quarter. Centric Wealth Management now owns 29,439 shares of the company's stock valued at $2,485,000 after acquiring an additional 6,305 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. Bank of America boosted their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and set a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Cantor Fitzgerald lifted their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Price Performance

PLTR stock traded up $0.38 on Tuesday, reaching $157.09. 65,275,079 shares of the company traded hands, compared to its average volume of 80,174,704. Palantir Technologies Inc. has a one year low of $29.31 and a one year high of $190.00. The company has a market cap of $372.67 billion, a P/E ratio of 712.32, a price-to-earnings-growth ratio of 8.83 and a beta of 2.59. The firm has a fifty day simple moving average of $155.80 and a 200-day simple moving average of $123.74.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter last year, the company posted $0.09 EPS. The company's revenue 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 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,076 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $167,587.00. Following the transaction, the insider directly owned 53,764 shares in the company, valued at $8,373,743. This represents a 1.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,906,783 shares of company stock valued at $282,471,442. 12.93% of the stock is owned by 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.