Sheets Smith Investment Management Sells 14,900 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Sheets Smith Investment Management has cut its stake in Palantir Technologies by 50%, selling 14,900 shares and retaining approximately 14,889 shares, which now represent 1.3% of their holdings.
• Several large investors, including Nuveen LLC and Price T Rowe Associates, have significantly increased their positions in Palantir during the first quarter, indicating strong institutional interest.
• Palantir reported earnings of $0.16 per share, exceeding analysts' expectations, with revenue up 48% year-over-year, further showcasing its growth potential in the tech market.

Sheets Smith Investment Management reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 50.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,889 shares of the company's stock after selling 14,900 shares during the period. Palantir Technologies accounts for about 1.3% of Sheets Smith Investment Management's holdings, making the stock its 21st biggest position. Sheets Smith Investment Management's holdings in Palantir Technologies were worth $1,257,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PLTR. Nuveen LLC bought a new position in shares of Palantir Technologies during the first quarter valued at about $520,232,000. Price T Rowe Associates Inc. MD boosted its position in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Palantir Technologies by 38.5% in 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 purchasing an additional 4,221,392 shares during the period. Amundi grew its stake in Palantir Technologies by 56.1% in the 1st quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after purchasing an additional 3,815,386 shares during the period. Finally, Invesco Ltd. grew its stake in Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 160,164 shares of the stock in a transaction dated 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 sale, the insider owned 592 shares of the company's stock, valued at approximately $92,204. This represents a 99.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the sale, the insider directly owned 50,961 shares in the company, valued at $8,000,877. This trade represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,604,634 shares of company stock worth $245,441,454 in the last three months. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $164.36 on Friday. The stock's 50-day simple moving average is $159.32 and its 200 day simple moving average is $126.29. The stock has a market capitalization of $389.92 billion, a price-to-earnings ratio of 547.88, a price-to-earnings-growth ratio of 9.40 and a beta of 2.59. Palantir Technologies Inc. has a 52-week low of $34.53 and a 52-week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PLTR shares. UBS Group restated a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus 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.

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