Palantir Technologies Inc. $PLTR Position Lessened by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC reduced its stake in Palantir Technologies by 30.8%, selling 192,050 shares and valuing its holdings at approximately $36.4 million at the end of the first quarter.
• Several other hedge funds adjusted their positions, with Assenagon Asset Management increasing its stake by 15% and Sagespring Wealth Partners lifting its stake by 36.3% during the same period.
• Palantir Technologies reported a 48% increase in quarterly revenue year-over-year, earning $0.16 EPS, which exceeded analyst estimates, and has provided strong guidance for the fiscal year.

NewEdge Advisors LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 30.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 431,671 shares of the company's stock after selling 192,050 shares during the period. NewEdge Advisors LLC's holdings in Palantir Technologies were worth $36,433,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Garrison Bradford & Associates Inc. acquired a new position in shares of Palantir Technologies during the 1st quarter worth $45,000. Menard Financial Group LLC increased its stake in shares of Palantir Technologies by 8.2% during the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock worth $2,189,000 after purchasing an additional 1,964 shares during the last quarter. TCW Group Inc. raised its holdings in shares of Palantir Technologies by 14.5% during the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company's stock valued at $2,703,000 after purchasing an additional 4,068 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its stake in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after purchasing an additional 6,405 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction on 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. This trade represents a 99.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the sale, the insider owned 6,432,258 shares in the company, valued at $973,650,893.46. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,990,586 shares of company stock valued at $295,423,583 in the last ninety days. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $156.14 on Friday. The firm has a 50-day simple moving average of $156.55 and a 200 day simple moving average of $124.44. Palantir Technologies Inc. has a twelve month low of $29.50 and a twelve month high of $190.00. The stock has a market cap of $370.42 billion, a PE ratio of 520.48, a PEG ratio of 8.73 and a beta of 2.59.

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 (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the company posted $0.09 earnings per share. The company's quarterly 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. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on PLTR. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and increased their target price for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a report on Tuesday, August 5th. Royal Bank Of Canada boosted their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. The Goldman Sachs Group increased their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Bank of America boosted 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. Four 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 MarketBeat, the company currently has an average rating of "Hold" and a consensus 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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