NewEdge Advisors LLC Has $36.43 Million Stake in Palantir Technologies Inc. $PLTR

NewEdge Advisors LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 30.8% during the first quarter, HoldingsChannel.com reports. The fund owned 431,671 shares of the company’s stock after selling 192,050 shares during the quarter. NewEdge Advisors LLC’s holdings in Palantir Technologies were worth $36,433,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PLTR. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the 1st quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies during the 1st quarter valued at about $27,000. 1248 Management LLC acquired a new position in Palantir Technologies in the first quarter valued at about $27,000. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the first quarter valued at about $33,000. Finally, Cornerstone Planning Group LLC grew its stake in Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock worth $33,000 after buying an additional 185 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $156.14 on Friday. The firm’s 50 day moving average price is $156.55 and its two-hundred day moving average price is $124.44. Palantir Technologies Inc. has a 52-week low of $29.50 and a 52-week high of $190.00. The stock has a market cap of $370.42 billion, a PE ratio of 520.48, a PEG ratio of 8.73 and a beta of 2.59.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Bank of America lifted their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. UBS Group reiterated a “neutral” rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 target price on Palantir Technologies in a report on Tuesday, August 5th. Finally, Loop Capital lifted their price target on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $136.61.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 160,164 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $24,945,543.00. Following the completion of the sale, the insider directly owned 592 shares of the company’s stock, valued at $92,204. This represents a 99.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred 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 owned 702,786 shares in the company, valued at $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,990,586 shares of company stock valued at $295,423,583 in the last ninety days. 9.23% of the stock is currently owned by insiders.

Palantir Technologies 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.