NorthCrest Asset Manangement LLC Sells 7,849 Shares of Palantir Technologies Inc. $PLTR

Key Points

• NorthCrest Asset Management LLC reduced its stake in Palantir Technologies by 46.8% during the second quarter, leaving them with 8,906 shares valued at approximately $1.2 million.
• Insider sales of Palantir stock have seen significant activity, with Jeffrey Buckley selling 2,803 shares and David A. Glazer selling 81,000 shares, indicating a decrease in their positions of 5.21% and 15.82%, respectively.
• Palantir reported a 48% increase in quarterly revenue year-over-year, reaching $1 billion, while also beating EPS estimates with a report of $0.16 compared to the expected $0.14.

NorthCrest Asset Manangement LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 46.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,906 shares of the company's stock after selling 7,849 shares during the period. NorthCrest Asset Manangement LLC's holdings in Palantir Technologies were worth $1,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Optima Capital LLC grew its stake in Palantir Technologies by 0.6% during the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after buying an additional 81 shares during the last quarter. Allegiance Financial Group Advisory Services LLC grew its stake in Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after buying an additional 84 shares during the last quarter. Delta Investment Management LLC grew its stake in Palantir Technologies by 1.9% during the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock worth $398,000 after buying an additional 90 shares during the last quarter. Sovran Advisors LLC grew its stake in Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after buying an additional 94 shares during the last quarter. Finally, Lodestone Wealth Management LLC grew its stake in Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on PLTR shares. Wall Street Zen cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Mizuho set a $165.00 price target on shares of Palantir Technologies in a research note on Monday, September 15th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and increased their price target for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Loop Capital increased their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Bank of America increased their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Four investment 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $138.28.

Palantir Technologies Trading Up 3.1%

Shares of Palantir Technologies stock traded up $5.42 during trading on Friday, hitting $182.39. 108,970,930 shares of the stock were exchanged, compared to its average volume of 60,474,068. Palantir Technologies Inc. has a 1-year low of $35.71 and a 1-year high of $190.00. The company has a fifty day moving average price of $163.32 and a 200-day moving average price of $130.19. The stock has a market capitalization of $432.69 billion, a price-to-earnings ratio of 607.99, a price-to-earnings-growth ratio of 10.28 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates 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 quarter last year, the company earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares of the company's stock, valued at $48,687,874.50. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,625,634 shares of company stock valued at $248,926,404 over the last 90 days. 9.23% of the stock is 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.