Palantir Technologies Inc. $PLTR Shares Sold by Connors Investor Services Inc.

Key Points

• Connors Investor Services Inc. reduced its stake in Palantir Technologies by 3.1%, now owning 811,902 shares worth approximately $110.7 million, making it the firm’s largest holding.
• Palantir Technologies reported a quarterly revenue of $1 billion, exceeding estimates, with a year-over-year revenue increase of 48%.
• Insider Alexander C. Karp sold 222,878 shares worth about $33.7 million, indicating a 3.35% decrease in his ownership, while insiders have sold a total of 1.56 million shares in the last 90 days.

Connors Investor Services Inc. lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 811,902 shares of the company's stock after selling 25,700 shares during the period. Palantir Technologies makes up 9.8% of Connors Investor Services Inc.'s holdings, making the stock its biggest holding. Connors Investor Services Inc.'s holdings in Palantir Technologies were worth $110,678,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp grew its holdings in shares of Palantir Technologies by 4.2% in the second quarter. Truist Financial Corp now owns 537,000 shares of the company's stock valued at $73,204,000 after purchasing an additional 21,809 shares in the last quarter. Presilium Private Wealth LLC acquired a new position in Palantir Technologies during the 2nd quarter worth approximately $204,000. New Century Financial Group LLC acquired a new position in Palantir Technologies during the 2nd quarter worth approximately $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 worth $984,786,000 after acquiring an additional 1,135,841 shares in the last quarter. Finally, Synergy Asset Management LLC grew its holdings in Palantir Technologies by 37.1% during the 2nd quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock worth $1,312,000 after acquiring an additional 2,606 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $175.49 on Thursday. The company has a market cap of $416.32 billion, a P/E ratio of 584.99, a PEG ratio of 9.84 and a beta of 2.60. Palantir Technologies Inc. has a one year low of $40.90 and a one year high of $190.00. The firm has a fifty day moving average of $171.21 and a two-hundred day moving average of $144.89.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

PLTR has been the subject of several analyst reports. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Palantir Technologies in a report on Wednesday, October 8th. Loop Capital upped their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $141.28.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 375,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares of the company's stock, valued at $106,261,243.20. This represents a 34.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,750 shares of company stock worth $239,713,896 in the last 90 days. Corporate insiders own 9.23% of the company's stock.

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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