Patton Fund Management Inc. Sells 56,586 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Patton Fund Management Inc. significantly reduced its holdings in Palantir Technologies by 66.5%, selling 56,586 shares and retaining 28,510 shares.
• Palantir Technologies reported a quarterly revenue of $1 billion, exceeding analyst expectations, and earnings per share grew from $0.09 to $0.16 year-over-year.
• Insider trading has seen significant activity, with key executives selling over 1.6 million shares combined, leading to a notable decrease in their ownership stakes.

Patton Fund Management Inc. lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 66.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,510 shares of the company's stock after selling 56,586 shares during the quarter. Palantir Technologies comprises approximately 2.7% of Patton Fund Management Inc.'s portfolio, making the stock its 14th biggest holding. Patton Fund Management Inc.'s holdings in Palantir Technologies were worth $3,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $450,000. Bison Wealth LLC lifted its holdings in shares of Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after buying an additional 4,667 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $366,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Palantir Technologies by 52.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 7,704 shares of the company's stock worth $650,000 after buying an additional 2,642 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Palantir Technologies in the first quarter worth about $241,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $177.57 on Friday. The firm's 50 day simple moving average is $166.16 and its 200 day simple moving average is $133.28. The company has a market capitalization of $421.26 billion, a P/E ratio of 591.92, a P/E/G ratio of 9.99 and a beta of 2.59. Palantir Technologies Inc. has a 1-year low of $36.05 and a 1-year high of $190.00.

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, 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 the consensus estimate of $939.29 million. During the same period last year, the firm posted $0.09 earnings per share. Palantir Technologies's quarterly revenue 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. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 375,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction that occurred 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 owned 6,432,258 shares in the company, valued at $973,650,893.46. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,634,634 shares of company stock valued at $250,524,804. 9.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PLTR has been the topic of a number of recent analyst reports. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald increased their price target 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. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Royal Bank Of Canada raised their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $140.22.

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.

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