Smith Anglin Financial LLC Decreases Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Smith Anglin Financial LLC decreased its holdings in Palantir Technologies by 33.9% in Q2, now owning 4,109 shares valued at approximately $560,000.
• Insiders have sold a total of 1,634,634 shares of Palantir stock, valued at $250,524,804, over the last quarter, indicating a possible trend in leadership selling.
• Although the stock opened at $177.57, Palantir has a market cap of $421.26 billion and a P/E ratio of 591.92, reflecting the company's high valuation relative to its earnings.

Smith Anglin Financial LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,109 shares of the company's stock after selling 2,105 shares during the period. Smith Anglin Financial LLC's holdings in Palantir Technologies were worth $560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Signature Resources Capital Management LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at about $25,000. Family Legacy Financial Solutions LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at about $31,000. Adirondack Trust Co. boosted its position in Palantir Technologies by 185.0% in the 2nd quarter. Adirondack Trust Co. now owns 285 shares of the company's stock valued at $39,000 after buying an additional 185 shares during the last quarter. Mechanics Financial Corp purchased a new position in Palantir Technologies in the 1st quarter valued at about $25,000. Finally, Wealth Preservation Advisors LLC purchased a new position in Palantir Technologies in the 1st quarter valued at about $27,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $177.60, for a total value of $1,598,400.00. Following the sale, the director owned 50,794 shares in the company, valued at approximately $9,021,014.40. This trade represents a 15.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider owned 702,786 shares in the company, valued at $112,129,506.30. The trade was a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,634,634 shares of company stock valued at $250,524,804 over the last quarter. Corporate insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup reissued a "neutral" rating and issued a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Royal Bank Of Canada upped 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. Loop Capital upped their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price objective for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Finally, Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $140.22.

Palantir Technologies Stock Down 0.9%

PLTR opened at $177.57 on Monday. The firm has a market cap of $421.26 billion, a price-to-earnings ratio of 591.92, a price-to-earnings-growth ratio of 9.91 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $36.05 and a fifty-two week high of $190.00. The company's 50-day moving average price is $166.16 and its 200 day moving average price is $134.01.

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

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.