Quarry LP Has $782,000 Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Quarry LP increased its ownership in Palantir Technologies by 197.8% in the first quarter, bringing its total shares to 9,262, which are valued at approximately $782,000.
• Palantir Technologies reported a quarterly revenue of $1 billion, surpassing analyst expectations, and its earnings per share (EPS) was $0.16, exceeding estimates by $0.02.
• Several investment firms have raised their price targets for Palantir Technologies, with Bank of America setting a new target of $180 per share, indicating a positive outlook on the stock's performance.

Quarry LP increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 197.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,262 shares of the company's stock after acquiring an additional 6,152 shares during the period. Quarry LP's holdings in Palantir Technologies were worth $782,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Calton & Associates Inc. lifted its stake in Palantir Technologies by 84.0% in the 1st quarter. Calton & Associates Inc. now owns 6,411 shares of the company's stock worth $541,000 after acquiring an additional 2,926 shares in the last quarter. Saudi Central Bank purchased a new stake in Palantir Technologies in the 1st quarter worth about $70,000. DRW Securities LLC lifted its stake in Palantir Technologies by 41.2% in the 1st quarter. DRW Securities LLC now owns 22,623 shares of the company's stock worth $1,909,000 after acquiring an additional 6,599 shares in the last quarter. Centric Wealth Management lifted its stake in Palantir Technologies by 27.3% in the 1st quarter. Centric Wealth Management now owns 29,439 shares of the company's stock worth $2,485,000 after acquiring an additional 6,305 shares in the last quarter. Finally, Spectrum Wealth Advisory Group LLC purchased a new stake in Palantir Technologies in the 1st quarter worth about $227,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PLTR shares. Cantor Fitzgerald increased their price objective on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group raised their price target on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Loop Capital raised their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $136.61.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $0.38 during midday trading on Tuesday, hitting $157.09. The company's stock had a trading volume of 65,275,079 shares, compared to its average volume of 80,174,704. The stock has a market capitalization of $372.67 billion, a price-to-earnings ratio of 712.32, a PEG ratio of 8.83 and a beta of 2.59. The stock's 50 day simple moving average is $155.80 and its 200 day simple moving average is $123.74. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm 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 company's revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 9,211 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $1,434,613.25. Following the sale, the insider owned 343,518 shares of the company's stock, valued at $53,502,928.50. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Glazer sold 8,047 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $1,253,320.25. Following the completion of the sale, the insider directly owned 474,399 shares in the company, valued at $73,887,644.25. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,906,783 shares of company stock worth $282,471,442. Insiders own 12.93% of the company's stock.

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.