Palantir Technologies Inc. $PLTR Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. significantly reduced its stake in Palantir Technologies by 64.8%, selling 37,200 shares during the first quarter, leaving them with 20,183 shares valued at approximately $1.7 million.
• Multiple institutional investors have adjusted their holdings in Palantir, with companies like Allegiance Financial Group and Sovran Advisors increasing their positions by 1.1% to 3.8% in the first quarter.
• Analysts have recently upgraded Palantir's price targets, with Deutsche Bank raising its target from $80 to $160, indicating a more favorable outlook for the company's stock.

Gamco Investors INC. ET AL decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 64.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,183 shares of the company's stock after selling 37,200 shares during the quarter. Gamco Investors INC. ET AL's holdings in Palantir Technologies were worth $1,703,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Samalin Investment Counsel LLC purchased a new position in Palantir Technologies in the first quarter worth approximately $457,000. Rafferty Asset Management LLC increased its holdings in shares of Palantir Technologies by 11.0% in the 1st quarter. Rafferty Asset Management LLC now owns 1,046,272 shares of the company's stock valued at $88,305,000 after acquiring an additional 103,861 shares during the period. PKS Advisory Services LLC increased its holdings in shares of Palantir Technologies by 66.7% in the 1st quarter. PKS Advisory Services LLC now owns 5,227 shares of the company's stock valued at $464,000 after acquiring an additional 2,091 shares during the period. Harvest Portfolios Group Inc. acquired a new position in Palantir Technologies in the 1st quarter valued at $25,263,000. Finally, Orion Capital Management LLC increased its stake in Palantir Technologies by 1.3% in the 1st quarter. Orion Capital Management LLC now owns 21,673 shares of the company's stock valued at $1,829,000 after buying an additional 273 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLTR. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Finally, UBS Group restated a "neutral" rating and issued a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $136.61.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 160,164 shares of Palantir Technologies stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $155.75, for a total transaction of $24,945,543.00. Following the sale, the insider directly owned 592 shares in the company, valued at $92,204. The trade was a 99.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Buckley sold 1,076 shares of Palantir Technologies stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $155.75, for a total transaction of $167,587.00. Following the sale, the insider owned 53,764 shares in the company, valued at approximately $8,373,743. This represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,906,783 shares of company stock valued at $282,471,442 in the last three months. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

PLTR traded down $1.41 during trading hours on Friday, hitting $156.71. 45,138,872 shares of the stock were exchanged, compared to its average volume of 84,324,376. The stock has a market cap of $371.77 billion, a price-to-earnings ratio of 712.32, a price-to-earnings-growth ratio of 8.83 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00. The stock has a 50-day simple moving average of $155.46 and a 200-day simple moving average of $123.44.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its 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. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.