Palantir Technologies Inc. $PLTR Position Cut by Tortoise Investment Management LLC

Key Points

• Tortoise Investment Management cut its stake in Palantir by 48.9% in Q2, selling 1,814 shares and ending the period with 1,893 shares worth about $258,000.
• Company insiders sold a total of 1,527,750 shares valued at roughly $234.5 million over the last quarter, reducing insider ownership to 12.93%.
• Palantir beat the most recent consensus with $0.21 EPS (vs. $0.17 est.) and $1.18 billion in revenue (up 62.8% YoY), though the stock trades at a high valuation (market cap ~$411 billion, P/E ~410.7) and carries a consensus analyst rating of "Hold" with a $172.28 target.

Tortoise Investment Management LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 48.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,893 shares of the company's stock after selling 1,814 shares during the quarter. Tortoise Investment Management LLC's holdings in Palantir Technologies were worth $258,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Truist Financial Corp raised its position in shares of Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company's stock worth $73,204,000 after buying an additional 21,809 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of Palantir Technologies by 1.3% during the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company's stock valued at $127,923,000 after acquiring an additional 12,300 shares during the period. Presilium Private Wealth LLC bought a new stake in Palantir Technologies during the second quarter worth approximately $204,000. New Century Financial Group LLC bought a new position in Palantir Technologies during the 2nd quarter valued at $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock valued at $984,786,000 after purchasing an additional 1,135,841 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $172.49 on Monday. The firm's 50 day simple moving average is $180.47 and its 200-day simple moving average is $156.90. The company has a market cap of $411.11 billion, a P/E ratio of 410.74, a price-to-earnings-growth ratio of 6.75 and a beta of 2.63. Palantir Technologies Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm's quarterly revenue was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction on Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the transaction, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. The trade was a 5.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,527,750 shares of company stock valued at $234,463,896 over the last quarter. 12.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. DA Davidson upped their price objective on Palantir Technologies from $170.00 to $215.00 and gave the company a "neutral" rating in a report on Tuesday, November 4th. Raymond James Financial reissued a "market perform" rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a research note on Wednesday, November 5th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $155.00 to $198.00 and gave the stock a "neutral" rating in a report on Tuesday, November 4th. Finally, Northland Securities raised their target price on shares of Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $172.28.

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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