Cobblestone Asset Management LLC Lowers Position in Palantir Technologies Inc. $PLTR

Cobblestone Asset Management LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 35.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,450 shares of the company’s stock after selling 1,350 shares during the quarter. Cobblestone Asset Management LLC’s holdings in Palantir Technologies were worth $334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Narus Financial Partners LLC purchased a new stake in Palantir Technologies in the 2nd quarter valued at $272,000. Lewis Asset Management LLC raised its position in Palantir Technologies by 24.6% in the 2nd quarter. Lewis Asset Management LLC now owns 5,060 shares of the company’s stock valued at $690,000 after buying an additional 1,000 shares during the last quarter. Toth Financial Advisory Corp raised its position in Palantir Technologies by 130.9% in the 2nd quarter. Toth Financial Advisory Corp now owns 3,866 shares of the company’s stock valued at $527,000 after buying an additional 2,192 shares during the last quarter. Abacus Wealth Partners LLC purchased a new stake in Palantir Technologies in the 2nd quarter valued at $265,000. Finally, Southland Equity Partners LLC purchased a new stake in Palantir Technologies in the 2nd quarter valued at $361,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $182.39 on Monday. The business’s 50 day simple moving average is $163.32 and its two-hundred day simple moving average is $130.54. The stock has a market capitalization of $432.69 billion, a P/E ratio of 607.99, a price-to-earnings-growth ratio of 10.28 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $35.71 and a one year high of $190.00.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business’s quarterly revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at $973,650,893.46. The trade was a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,625,634 shares of company stock worth $248,926,404. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PLTR shares. Piper Sandler set a $182.00 price target on Palantir Technologies in a research report on Tuesday, August 5th. Loop Capital upped their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. DA Davidson set a $170.00 price objective on Palantir Technologies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Bank of America raised their target price on Palantir Technologies from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $138.28.

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.