Palantir Technologies Inc. $PLTR Shares Sold by Dock Street Asset Management Inc.

Key Points

• Dock Street Asset Management Inc. reduced its holdings in Palantir Technologies by 5.5%, selling 59,263 shares and now owning approximately 1,016,008 shares, which represent 13.0% of its total portfolio.
• Palantir received multiple upgraded price targets from analysts, with Mizuho setting a target of $165.00 and Piper Sandler adjusting theirs to $201.00, highlighting mixed opinions on the stock's future.
• Despite institutional ownership of 45.65%, insider trading activity included substantial sales, with one insider selling 81,000 shares for over $12 million recently, indicating potential shifts in insider confidence.

Dock Street Asset Management Inc. trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,016,008 shares of the company's stock after selling 59,263 shares during the period. Palantir Technologies accounts for approximately 13.0% of Dock Street Asset Management Inc.'s holdings, making the stock its 2nd biggest position. Dock Street Asset Management Inc.'s holdings in Palantir Technologies were worth $138,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp boosted its stake in Palantir Technologies by 4.2% during the 2nd 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 during the period. Presilium Private Wealth LLC acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $204,000. New Century Financial Group LLC acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Palantir Technologies by 10.8% in 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 during the period. Finally, Synergy Asset Management LLC lifted its stake in shares of Palantir Technologies by 37.1% in 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 during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLTR has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Mizuho set a $165.00 price target on shares of Palantir Technologies in a research note on Monday, September 15th. Loop Capital upped their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Piper Sandler upped their price target on shares of Palantir Technologies from $182.00 to $201.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their target price for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Five research 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. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $141.28.

Palantir Technologies Price Performance

PLTR stock opened at $179.74 on Wednesday. Palantir Technologies Inc. has a 52-week low of $40.36 and a 52-week high of $190.00. The company's 50 day simple moving average is $171.78 and its 200-day simple moving average is $141.31. The firm has a market capitalization of $426.40 billion, a P/E ratio of 599.15, a P/E/G ratio of 9.61 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $939.29 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The firm'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. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $186.39, for a total transaction of $149,112.00. Following the completion of the transaction, the director owned 62,087 shares in the company, valued at approximately $11,572,395.93. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,750 shares of company stock valued at $239,713,896 over the last three months. 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.

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