QRG Capital Management Inc. Sells 2,848 Shares of Palantir Technologies Inc. $PLTR

Key Points

• QRG Capital Management Inc. reduced its stake in Palantir Technologies by 0.8%, selling 2,848 shares to hold a total of 375,308 shares, valued at approximately $51.16 million.
• Several major institutional investors, including Northern Trust Corp. and Goldman Sachs Group Inc., have increased their stakes in Palantir, indicating strong institutional interest in the company.
• Palantir Technologies recently reported $1 billion in quarterly revenue, exceeding analysts' expectations, with a year-over-year revenue growth of 48%.

QRG Capital Management Inc. cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 375,308 shares of the company's stock after selling 2,848 shares during the quarter. QRG Capital Management Inc.'s holdings in Palantir Technologies were worth $51,162,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Northern Trust Corp increased its stake in shares of Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after buying an additional 64,973 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $2,543,888,000. Invesco Ltd. increased its stake in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after buying an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after buying an additional 4,221,392 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after buying an additional 571,544 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Bank of America increased their price target on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Weiss Ratings reissued a "buy (b-)" rating on shares of Palantir Technologies in a research note on Saturday, September 27th. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen cut Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $140.22.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $173.07 on Friday. The business has a 50 day simple moving average of $168.90 and a 200 day simple moving average of $136.63. Palantir Technologies Inc. has a one year low of $38.78 and a one year high of $190.00. The stock has a market capitalization of $410.58 billion, a P/E ratio of 576.92, a P/E/G ratio of 10.44 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same quarter last year, the firm posted $0.09 earnings per share. The firm's 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. Equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the completion of the transaction, the insider owned 592 shares in the company, valued at approximately $89,611.04. The trade was a 99.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Company 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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