Palantir Technologies Inc. $PLTR Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. reduced its Palantir stake by 4.5% in the second quarter, selling 3,803 shares and retaining 79,883 shares valued at approximately $9.32 million. Hedge funds and institutional investors collectively own 45.65% of PLTR.
• Palantir reported quarterly revenue of $1.94 billion, up 92.8% year over year, and earnings per share of $0.41, beating analysts’ estimates. Shares opened at $186.29, with a market capitalization of $447.67 billion and a notably high P/E ratio of 159.22.
• Insider selling and valuation remain key risks: CEO Alexander Karp sold approximately $86.1 million of stock under a pre-arranged plan, while analysts maintain a “Moderate Buy” consensus with an average price target of $192.19.

Benjamin Edwards Inc. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,883 shares of the company's stock after selling 3,803 shares during the period. Benjamin Edwards Inc.'s holdings in Palantir Technologies were worth $9,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Palantir Technologies by 0.4% in the 2nd quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock valued at $22,146,030,000 after purchasing an additional 757,322 shares in the last quarter. State Street Corp grew its stake in shares of Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company's stock worth $18,198,990,000 after purchasing an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock worth $9,599,882,000 after purchasing an additional 805,047 shares in the last quarter. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter valued at $5,149,641,000. Finally, Invesco Ltd. raised its stake in Palantir Technologies by 2.8% in the fourth quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock valued at $3,984,281,000 after buying an additional 616,297 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR opened at $186.29 on Monday. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52. The stock has a market capitalization of $447.67 billion, a P/E ratio of 159.22, a price-to-earnings-growth ratio of 2.63 and a beta of 1.59. The business's 50-day simple moving average is $143.76 and its 200-day simple moving average is $142.04.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter in the previous year, the business earned $0.16 earnings per share. The firm's revenue for the quarter was up 92.8% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.27 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 492,348 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total value of $86,057,506.92. Following the sale, the insider owned 6,432,258 shares of the company's stock, valued at approximately $1,124,294,375.82. The trade was a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 3,032 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $165.00, for a total value of $500,280.00. Following the completion of the sale, the director directly owned 54,107 shares of the company's stock, valued at $8,927,655. This represents a 5.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 720,166 shares of company stock valued at $116,825,178. Corporate insiders own 9.53% of the company's stock.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Exceptional growth and profitability: Palantir’s Rule of 40 score reportedly reached 155%, supported by approximately 93% revenue growth and a 62% adjusted operating margin. The figures reinforce the bullish view that the company is converting AI demand into both rapid sales expansion and strong cash generation. Palantir's Rule of 40 Surge Signals Strong AI-Driven Performance
• Positive Sentiment: Defense AI momentum: Palantir’s Maven Smart System is approaching a $1 billion annual revenue run rate, while Pentagon funding and its designation as a program of record could support as much as $2.30 billion over five years. This gives investors greater visibility into a potentially significant government growth engine. Palantir's Pentagon AI Business Is Closing In on $1 Billion a Year
• Positive Sentiment: Strong technical and investor interest: PLTR recently broke out to a new high and was added to prominent best-stock and watch lists. Analysts and bullish commentators argue that the sovereign-AI opportunity and Palantir’s execution could justify price targets above current Wall Street estimates. Palantir, Nvidia Among 17 Stocks Rising Onto Best Stock Lists
• Neutral Sentiment: Covered-call strategies are being discussed after the recent rally, reflecting strong demand for PLTR exposure but also investor interest in generating income and potentially limiting downside.
• Negative Sentiment: Valuation remains a major risk: With Palantir trading at roughly 159 times earnings, some value investors view the stock as attractive only at a substantially lower price. Analysts also remain divided over whether its growth can justify the premium valuation. Value Investor Admits Palantir Cheaper Than Expected
• Negative Sentiment: Insider selling and AI concentration concerns: CEO Alexander Karp has sold nearly $86 million of stock, and co-founder Peter Thiel has reduced his stake over time. Separately, investor Steve Eisman warned that AI revenue at major cloud companies is heavily concentrated among OpenAI and Anthropic, raising questions about the durability of AI-related spending and valuations. NVIDIA, Palantir Technologies, and the AI Achilles' Heel

Analysts Set New Price Targets

Several research analysts have recently issued reports on PLTR shares. President Capital raised Palantir Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $25.50 to $133.00 in a research report on Monday, June 29th. Zacks Research raised Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Argus upgraded Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a research note on Wednesday, May 6th. Piper Sandler restated an "overweight" rating and set a $230.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $204.00 price target on shares of Palantir Technologies in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Palantir Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $192.19.

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source