Pekin Hardy Strauss Inc. Cuts Stock Position in Palantir Technologies Inc. $PLTR

Pekin Hardy Strauss Inc. lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 25.2% in the second quarter, Holdings Channel.com reports. The fund owned 3,315 shares of the company’s stock after selling 1,115 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Palantir Technologies were worth $452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mechanics Financial Corp purchased a new position in Palantir Technologies in the 1st quarter worth approximately $25,000. Signature Resources Capital Management LLC acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $27,000. 1248 Management LLC purchased a new stake in Palantir Technologies in the first quarter valued at approximately $27,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at $27,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the firm’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 $29,020,656.40. Following the completion of the sale, the insider owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 222,878 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares in the company, valued at $973,650,893.46. The trade was a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,527,750 shares of company stock worth $234,463,896. Insiders own 9.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PLTR shares. Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a research note on Tuesday. Wall Street Zen upgraded Palantir Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. Northland Securities upped their target price on shares of Palantir Technologies from $14.00 to $18.50 in a report on Tuesday. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Piper Sandler increased their price objective on Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $173.45.

Palantir Technologies Price Performance

PLTR opened at $177.93 on Friday. Palantir Technologies Inc. has a 12 month low of $55.30 and a 12 month high of $207.52. The stock has a market capitalization of $422.11 billion, a P/E ratio of 423.65, a P/E/G ratio of 6.78 and a beta of 2.63. The business has a 50 day simple moving average of $177.73 and a 200-day simple moving average of $153.68.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. Palantir Technologies’s quarterly revenue was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS 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.