Smartleaf Asset Management LLC Has $1.34 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Smartleaf Asset Management LLC increased its stake in Palantir Technologies by 21.3%, owning 15,581 shares valued at approximately $1.34 million as of the latest SEC filing.
• Palantir Technologies reported $1 billion in revenue for the recent quarter, surpassing estimates and showing a 48% increase compared to the previous year, with an earnings per share of $0.16.
• Insider transactions revealed significant sales, with insider Shyam Sankar selling 30,000 shares for nearly $4.79 million, highlighting notable changes in insider ownership.

Smartleaf Asset Management LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 21.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,581 shares of the company's stock after purchasing an additional 2,739 shares during the quarter. Smartleaf Asset Management LLC's holdings in Palantir Technologies were worth $1,338,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Westwood Wealth Management grew its position in shares of Palantir Technologies by 199.7% in the 1st quarter. Westwood Wealth Management now owns 52,450 shares of the company's stock worth $4,427,000 after acquiring an additional 34,950 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Palantir Technologies by 3.2% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 402,396 shares of the company's stock worth $33,962,000 after acquiring an additional 12,664 shares in the last quarter. Sax Wealth Advisors LLC grew its position in shares of Palantir Technologies by 14.7% in the 1st quarter. Sax Wealth Advisors LLC now owns 3,744 shares of the company's stock worth $316,000 after acquiring an additional 480 shares in the last quarter. Van Hulzen Asset Management LLC grew its position in shares of Palantir Technologies by 38.9% in the 1st quarter. Van Hulzen Asset Management LLC now owns 6,648 shares of the company's stock worth $561,000 after acquiring an additional 1,863 shares in the last quarter. Finally, Cunning Capital Partners LP acquired a new position in shares of Palantir Technologies in the 1st quarter worth approximately $1,435,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 price objective on Palantir Technologies in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Price Performance

Shares of PLTR traded down $4.15 during midday trading on Wednesday, reaching $156.72. The stock had a trading volume of 68,710,419 shares, compared to its average volume of 91,953,258. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00. The firm's 50 day moving average price is $154.37 and its 200-day moving average price is $122.57. The company has a market capitalization of $371.79 billion, a P/E ratio of 522.42, a P/E/G ratio of 8.86 and a beta of 2.60.

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

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 160,164 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $24,945,543.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Glazer sold 8,047 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $1,253,320.25. Following the completion of the sale, the insider directly owned 474,399 shares in the company, valued at $73,887,644.25. This represents a 1.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,906,783 shares of company stock worth $282,471,442. 12.93% of the stock is owned by corporate insiders.

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.