Sovran Advisors LLC Raises Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Sovran Advisors LLC increased its stake in Palantir Technologies by 49.3%, owning 8,142 shares worth $1,138,000 after acquiring additional shares in Q2.
• Insider Shyam Sankar sold 30,000 shares worth approximately $4.79 million, reducing his ownership by 4.09%, while Director Lauren Elaina Friedman Stat also sold 21,000 shares in a separate transaction.
• Palantir Technologies reported earnings of $0.16 per share, surpassing expectations, and saw its revenue grow by 48% year-over-year, reaching $1 billion for the quarter.

Sovran Advisors LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 49.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,142 shares of the company's stock after acquiring an additional 2,689 shares during the quarter. Sovran Advisors LLC's holdings in Palantir Technologies were worth $1,138,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PLTR. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies during the first quarter worth approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies during the first quarter worth approximately $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies during the first quarter worth approximately $27,000. Richardson Capital Management LLC purchased a new position in shares of Palantir Technologies during the first quarter worth approximately $33,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies 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 completion of the sale, the insider directly owned 702,786 shares in the company, valued at approximately $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 21,000 shares of Palantir Technologies stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $165.95, for a total transaction of $3,484,950.00. Following the sale, the director owned 59,794 shares of the company's stock, valued at $9,922,814.30. The trade was a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,625,634 shares of company stock valued at $248,926,404. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Up 5.1%

Shares of PLTR opened at $176.97 on Friday. The company has a market cap of $419.83 billion, a price-to-earnings ratio of 589.92, a price-to-earnings-growth ratio of 9.49 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $35.71 and a twelve month high of $190.00. The company has a 50 day moving average of $162.51 and a two-hundred day moving average of $129.24.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Mizuho set a $165.00 price objective on shares of Palantir Technologies in a research note on Monday. Loop Capital increased their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada increased their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and increased their price objective for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $138.28.

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.

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