Claret Asset Management Corp Sells 8,505 Shares of Palantir Technologies Inc. $PLTR

Claret Asset Management Corp reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 80.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,126 shares of the company’s stock after selling 8,505 shares during the period. Claret Asset Management Corp’s holdings in Palantir Technologies were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TradeLink Capital LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth approximately $2,495,000. Edgestream Partners L.P. grew its position in Palantir Technologies by 132.3% during the 2nd quarter. Edgestream Partners L.P. now owns 14,749 shares of the company’s stock worth $2,011,000 after acquiring an additional 8,401 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Palantir Technologies by 5.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,766,938 shares of the company’s stock valued at $240,869,000 after purchasing an additional 94,218 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new position in Palantir Technologies in the 2nd quarter valued at $1,209,000. Finally, Smith Moore & CO. boosted its stake in Palantir Technologies by 9.1% in the second quarter. Smith Moore & CO. now owns 7,821 shares of the company’s stock worth $1,066,000 after purchasing an additional 652 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Friday. UBS Group raised their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Piper Sandler upped their target price on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Loop Capital increased their price target 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. Finally, Morgan Stanley boosted their price objective on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $172.28.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 81,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the sale, the insider directly owned 431,169 shares in the company, valued at $66,602,675.43. This trade represents a 15.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 359,325 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $58,925,706.75. Following the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $1,054,825,989.42. This represents a 5.29% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,146,892 shares of company stock valued at $186,381,382. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $168.44 on Monday. Palantir Technologies Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $207.52. The firm has a market capitalization of $401.46 billion, a P/E ratio of 401.05, a P/E/G ratio of 6.53 and a beta of 2.63. The company’s 50 day simple moving average is $179.48 and its 200 day simple moving average is $160.03.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business’s revenue for the quarter was up 62.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.