194,400 Shares in Palantir Technologies Inc. $PLTR Bought by Shannon River Fund Management LLC

Key Points

• Shannon River Fund Management LLC has acquired 194,400 shares of Palantir Technologies Inc., valued at approximately $16.4 million, representing about 4.3% of its investment portfolio.
• Palantir's stock has seen varying ratings from analysts, with four giving it a Buy rating, while the average target price is set at $136.61.
• Insider trading activity has increased, with insiders selling a total of 1.9 million shares valued at over $282 million in the last three months.

Shannon River Fund Management LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 194,400 shares of the company's stock, valued at approximately $16,407,000. Palantir Technologies accounts for approximately 4.3% of Shannon River Fund Management LLC's investment portfolio, making the stock its 12th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Northern Trust Corp lifted its position in Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares during the period. Invesco Ltd. lifted its position in Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after acquiring an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. lifted its position in Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after acquiring an additional 571,544 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after acquiring an additional 4,748,513 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 160,164 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total transaction of $24,945,543.00. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at $92,204. The trade was a 99.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. The trade was a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,906,783 shares of company stock worth $282,471,442. Company insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 0.9%

NASDAQ:PLTR traded down $1.41 during trading hours on Monday, reaching $156.71. The company had a trading volume of 45,138,872 shares, compared to its average volume of 84,324,376. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00. The firm has a market cap of $371.77 billion, a price-to-earnings ratio of 522.38, a PEG ratio of 8.83 and a beta of 2.59. The firm's 50 day moving average price is $155.46 and its 200-day moving average price is $123.48.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the previous year, the firm posted $0.09 EPS. 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. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Loop Capital lifted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $136.61.

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.