Palantir Technologies Inc. $PLTR Shares Sold by Tortoise Investment Management LLC

Key Points

• Tortoise Investment Management LLC reduced its stake in Palantir Technologies by 35% in Q1, selling 2,000 shares, leaving them with a total of 3,707 shares valued at $313,000.
• Several institutional investors acquired new stakes or increased their holdings in Palantir Technologies during the same quarter, with institutional ownership now at 45.65%.
• Analysts have raised their price targets for Palantir Technologies, with estimates ranging from $155 to $182, while the company maintains a consensus rating of "Hold."

Tortoise Investment Management LLC reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 35.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,707 shares of the company's stock after selling 2,000 shares during the period. Tortoise Investment Management LLC's holdings in Palantir Technologies were worth $313,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies during the first quarter worth $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth $27,000. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth $33,000. Cornerstone Planning Group LLC lifted its stake in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on PLTR shares. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. UBS Group reissued a "neutral" rating and set a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Finally, DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $136.61.

Palantir Technologies Trading Up 0.9%

NASDAQ PLTR opened at $158.12 on Friday. The stock has a market capitalization of $375.11 billion, a price-to-earnings ratio of 527.08, a PEG ratio of 8.83 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The stock has a 50-day moving average of $155.07 and a 200 day moving average of $123.10.

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 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 analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,906,783 shares of company stock valued at $282,471,442. 9.23% of the stock is currently owned by company insiders.

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.

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