Palantir Technologies Inc. $PLTR Shares Sold by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management Inc. reduced its holdings in Palantir Technologies by 15.8%, owning 10,517 shares after selling 1,975 shares in the first quarter.
• Research analysts have set varying price objectives for Palantir, with Goldman Sachs raising its target from $90 to $141 and Piper Sandler at $182, indicating a generally positive outlook.
• Palantir reported a 48% year-over-year revenue increase with earnings of $0.16 per share, exceeding analysts' expectations and demonstrating strong financial performance.

Osterweis Capital Management Inc. lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 15.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,517 shares of the company's stock after selling 1,975 shares during the period. Osterweis Capital Management Inc.'s holdings in Palantir Technologies were worth $888,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies in the first quarter worth approximately $25,000. Richardson Capital Management LLC purchased a new position in Palantir Technologies during the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC grew its position in Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares in the last quarter. Finally, Capital Analysts LLC grew its position in Palantir Technologies by 97.1% during the first quarter. Capital Analysts LLC now owns 406 shares of the company's stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Trading Down 9.4%

Shares of Palantir Technologies stock opened at $157.75 on Wednesday. The firm has a fifty day simple moving average of $152.36 and a 200-day simple moving average of $120.64. Palantir Technologies Inc. has a 1-year low of $29.31 and a 1-year high of $190.00. The stock has a market capitalization of $374.24 billion, a price-to-earnings ratio of 525.85, a PEG ratio of 9.81 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $939.29 million. During the same period in the previous year, the company earned $0.09 earnings per share. Palantir Technologies's revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric H. Woersching sold 17,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the completion of the sale, the director directly owned 12,562 shares in the company, valued at $1,624,140.98. This trade represents a 57.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 529,684 shares of company stock valued at $71,900,350 in the last 90 days. 12.93% of the stock is owned by company insiders.

Palantir Technologies 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.