Sherman Asset Management Inc. Purchases Shares of 3,800 Palantir Technologies Inc. $PLTR

Key Points

• Sherman Asset Management opened a new position in Palantir Technologies in Q4, buying 3,800 shares valued at about $675,000.
• Other institutional investors also boosted their Palantir holdings, and institutions and hedge funds now own 45.65% of the stock.
• Palantir reported better-than-expected Q1 results, with EPS of $0.33 and revenue of $1.63 billion, while analysts currently maintain an average Moderate Buy rating and a consensus price target of $195.16.

Sherman Asset Management Inc. purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,800 shares of the company's stock, valued at approximately $675,000.

A number of other hedge funds have also bought and sold shares of the stock. Milestone Asset Management LLC increased its stake in shares of Palantir Technologies by 229.5% in the fourth quarter. Milestone Asset Management LLC now owns 60,551 shares of the company's stock worth $10,763,000 after acquiring an additional 42,173 shares during the period. GPS Wealth Strategies Group LLC increased its stake in shares of Palantir Technologies by 26.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 58,548 shares of the company's stock worth $10,680,000 after acquiring an additional 12,229 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Palantir Technologies by 135.3% in the third quarter. Public Sector Pension Investment Board now owns 540,835 shares of the company's stock worth $98,659,000 after acquiring an additional 310,942 shares during the period. VCI Wealth Management LLC increased its stake in shares of Palantir Technologies by 42.3% in the fourth quarter. VCI Wealth Management LLC now owns 12,187 shares of the company's stock worth $2,166,000 after acquiring an additional 3,621 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Palantir Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock worth $38,295,188,000 after acquiring an additional 1,557,828 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $133.99 on Friday. The company's fifty day moving average price is $144.62 and its 200 day moving average price is $159.79. Palantir Technologies Inc. has a 1 year low of $118.93 and a 1 year high of $207.52. The company has a market capitalization of $321.22 billion, a PE ratio of 150.55, a price-to-earnings-growth ratio of 2.12 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm posted $0.13 earnings per share. The firm's quarterly revenue was up 84.7% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLTR. Piper Sandler reiterated an "overweight" rating and issued a $230.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 3rd. Royal Bank Of Canada reiterated an "underperform" rating and issued a $90.00 price objective on shares of Palantir Technologies in a research note on Tuesday, May 5th. William Blair raised shares of Palantir Technologies from a "market perform" rating to an "outperform" rating in a report on Monday, February 2nd. Loop Capital lowered their price target on shares of Palantir Technologies from $230.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Finally, Freedom Capital raised shares of Palantir Technologies from a "strong sell" rating to a "strong-buy" rating in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $195.16.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 327,088 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $43,738,207.36. Following the sale, the insider directly owned 592 shares of the company's stock, valued at approximately $79,162.24. This represents a 99.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 168,004 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $22,465,494.88. Following the transaction, the insider directly owned 642,786 shares in the company, valued at approximately $85,953,343.92. The trade was a 20.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,029,479 shares of company stock valued at $137,685,797 in the last three months. Corporate insiders own 9.53% of the company's stock.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Wall Street commentary remains constructive after Palantir’s strong quarterly results, with one brokerage lifting its price target to $230 and keeping a Buy rating, citing the company’s powerful revenue growth and AI momentum. Freedom Broker Lifts Palantir (PLTR) Price Target After Strong Results
• Positive Sentiment: Palantir-linked defense and autonomy demand continues to show up in partner results, as Ondas reported explosive revenue growth and raised guidance, highlighting broader commercial and defense adoption of Palantir-powered technology. Palantir-Backed Ondas Stock Soars. Autonomous Drone Company Sees Revenue Grow 1,065%.
• Positive Sentiment: Several bullish articles argue the recent pullback could be a buying opportunity, with analysts and commentators pointing to Palantir’s rapid revenue growth, rising analyst targets, and long runway in AI and government software. Palantir's Critics Are "Right"—But They're Also Still Wrong
• Neutral Sentiment: Media coverage of President Trump’s purchases and public comments on Palantir has increased attention on the stock, but this is more of a sentiment driver than a direct business catalyst. Trump touted Palantir on Truth Social after buying the company's stock, records show
• Neutral Sentiment: Long-form outlook pieces and “stock price in 2030” predictions are keeping Palantir in the spotlight, but they do not materially change the near-term fundamental picture. This Will Be Palantir Technologies Stock Price in 2030
• Negative Sentiment: Bearish commentary continues to focus on valuation, with some investors arguing Palantir’s premium is too high even after exceptional growth, which may be contributing to the stock’s weakness. Where Will Palantir Stock Be in 5 Years?
• Negative Sentiment: Additional reports note that Palantir is still trading well below recent highs after a strong run, with investors rotating away from software names and some insiders reportedly selling more than buying. Retail traders are trimming holdings of longtime AI favorite Palantir in a pivot from software stocks

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.