Sandbox Financial Partners LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,799 shares of the company's stock, valued at approximately $245,000.
Several other hedge funds have also recently modified their holdings of the stock. Mechanics Financial Corp purchased a new stake in Palantir Technologies in the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new stake in Palantir Technologies in the first quarter valued at approximately $27,000. 1248 Management LLC purchased a new stake in Palantir Technologies in the first quarter valued at approximately $27,000. Richardson Capital Management LLC purchased a new stake in Palantir Technologies in the first quarter valued at approximately $33,000. Finally, Cornerstone Planning Group LLC boosted its position in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.
Insider Activity
In related news, insider Shyam Sankar sold 375,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This represents a 34.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,625,634 shares of company stock worth $248,926,404. Insiders own 9.23% of the company's stock.
Palantir Technologies Price Performance
Shares of NASDAQ:PLTR opened at $171.21 on Tuesday. Palantir Technologies Inc. has a 1 year low of $35.56 and a 1 year high of $190.00. The firm has a market capitalization of $406.17 billion, a price-to-earnings ratio of 570.72, a price-to-earnings-growth ratio of 9.66 and a beta of 2.59. The business's 50 day moving average price is $160.71 and its 200-day moving average price is $128.03.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the firm posted $0.09 EPS. The business'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. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the company. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a research report on Tuesday, August 5th. Citigroup restated a "neutral" rating and issued a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and upped their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned 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.
Get Our Latest Research Report on PLTR
About Palantir Technologies
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).
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