Sassicaia Capital Advisers LLC Buys New Shares in Palantir Technologies Inc. $PLTR

Key Points

• Sassicaia Capital Advisers LLC made a new investment in Palantir Technologies, acquiring 14,000 shares valued at approximately $1.18 million, making it the firm's fourth largest holding.
• Insiders have recently sold a substantial number of shares, with insider David A. Glazer selling over 8,000 shares while Stephen Andrew Cohen sold 160,164 shares, indicating active movement in ownership among insiders.
• Palantir Technologies reported impressive earnings with $1 billion in revenue for the last quarter, surpassing expectations while showing a year-over-year growth of 48% in revenue.

Sassicaia Capital Advisers LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 14,000 shares of the company's stock, valued at approximately $1,182,000. Palantir Technologies makes up about 4.3% of Sassicaia Capital Advisers LLC's portfolio, making the stock its 4th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after acquiring an additional 6,479 shares during the period. Garrison Bradford & Associates Inc. bought a new position in shares of Palantir Technologies during the first quarter valued at approximately $45,000. Menard Financial Group LLC boosted its position in shares of Palantir Technologies by 8.2% in the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock worth $2,189,000 after purchasing an additional 1,964 shares in the last quarter. TCW Group Inc. boosted its position in shares of Palantir Technologies by 14.5% in the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after purchasing an additional 4,068 shares in the last quarter. Finally, Sagespring Wealth Partners LLC grew its stake in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 160,164 shares of the business'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 transaction of $24,945,543.00. Following the transaction, the insider owned 592 shares of the company's stock, valued at approximately $92,204. The trade was a 99.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 9,211 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $1,434,613.25. Following the completion of the sale, the insider directly owned 343,518 shares of the company's stock, valued at approximately $53,502,928.50. The trade was a 2.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,906,783 shares of company stock worth $282,471,442 in the last three months. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Trading Up 0.1%

NASDAQ PLTR traded up $0.20 on Tuesday, hitting $156.91. 62,024,346 shares of the company traded hands, compared to its average volume of 91,358,016. The business's 50 day moving average price is $155.80 and its 200-day moving average price is $123.74. The company has a market capitalization of $372.24 billion, a price-to-earnings ratio of 523.05, a P/E/G ratio of 8.83 and a beta of 2.59. Palantir Technologies Inc. has a 52-week low of $29.31 and a 52-week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLTR. Bank of America lifted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada increased their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Loop Capital raised their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $136.61.

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.