The Manufacturers Life Insurance Company Acquires 10,823 Shares of Palantir Technologies Inc. $PLTR

Key Points

• The Manufacturers Life Insurance Company increased its stake in Palantir Technologies by 0.9%, holding approximately 1.26 million shares valued at $106.25 million as of a recent SEC filing.
• Insider Stephen Andrew Cohen sold nearly 192,000 shares of Palantir, resulting in a 99.69% decrease in his ownership of the stock.
• Palantir Technologies reported a revenue of $1 billion for the last quarter, outperforming expectations and showing a 48% year-over-year increase.

The Manufacturers Life Insurance Company increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,258,906 shares of the company's stock after acquiring an additional 10,823 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Palantir Technologies worth $106,253,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PLTR. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies in the first quarter worth approximately $27,000. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter worth $33,000. Cornerstone Planning Group LLC increased its stake in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC increased its position in shares of Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 222,878 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the sale, the insider owned 363,755 shares of the company's stock, valued at $49,219,689.05. This trade represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,906,783 shares of company stock valued at $282,471,442 over the last 90 days. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Down 0.9%

Shares of PLTR stock traded down $1.41 during trading on Monday, reaching $156.71. The company's stock had a trading volume of 45,138,872 shares, compared to its average volume of 84,324,376. The business has a fifty day moving average price of $155.46 and a 200-day moving average price of $123.48. Palantir Technologies Inc. has a one year low of $29.31 and a one year high of $190.00. The company has a market cap of $371.77 billion, a price-to-earnings ratio of 522.38, a price-to-earnings-growth ratio of 8.83 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating 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 business 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 earnings per share. Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. 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 EPS for the current year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent analyst reports. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price target for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Bank of America raised their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price target for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada lifted their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Company 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.