Palantir Technologies Inc. $PLTR Shares Sold by Mitchell Capital Management Co.

Mitchell Capital Management Co. reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 44,599 shares of the company’s stock after selling 6,755 shares during the quarter. Palantir Technologies accounts for approximately 1.1% of Mitchell Capital Management Co.’s investment portfolio, making the stock its 22nd biggest holding. Mitchell Capital Management Co.’s holdings in Palantir Technologies were worth $6,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth $2,543,888,000. Nuveen LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth $520,232,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Palantir Technologies by 55.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Finally, Amundi raised its holdings in shares of Palantir Technologies by 56.1% during the first quarter. Amundi now owns 10,620,301 shares of the company’s stock worth $887,857,000 after purchasing an additional 3,815,386 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction dated 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 owned 431,169 shares in the company, valued at $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,591,085 shares of company stock valued at $244,714,146. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Palantir Technologies in a report on Wednesday, October 8th. Wall Street Zen cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. UBS Group reissued a “neutral” rating and set a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Loop Capital raised their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Mizuho set a $165.00 target price on shares of Palantir Technologies in a report on Monday, September 15th. Five analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $140.22.

Palantir Technologies Stock Performance

PLTR opened at $175.44 on Monday. Palantir Technologies Inc. has a fifty-two week low of $40.36 and a fifty-two week high of $190.00. The company has a fifty day moving average of $171.32 and a two-hundred day moving average of $140.40. The stock has a market capitalization of $416.20 billion, a price-to-earnings ratio of 584.82, a PEG ratio of 9.51 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $0.09 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share 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.