Dock Street Asset Management Inc. Sells 59,263 Shares of Palantir Technologies Inc. $PLTR

Dock Street Asset Management Inc. trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,016,008 shares of the company’s stock after selling 59,263 shares during the quarter. Palantir Technologies makes up 13.0% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 2nd largest position. Dock Street Asset Management Inc.’s holdings in Palantir Technologies were worth $138,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies in the fourth quarter worth approximately $450,000. Bison Wealth LLC boosted its holdings in shares of Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after buying an additional 4,667 shares during the period. GAMMA Investing LLC raised its stake in Palantir Technologies by 76.4% during the 1st quarter. GAMMA Investing LLC now owns 22,653 shares of the company’s stock valued at $1,912,000 after purchasing an additional 9,810 shares during the last quarter. CX Institutional acquired a new position in Palantir Technologies during the 1st quarter valued at $62,000. Finally, Ritholtz Wealth Management raised its stake in Palantir Technologies by 96.6% during the 1st quarter. Ritholtz Wealth Management now owns 20,999 shares of the company’s stock valued at $1,772,000 after purchasing an additional 10,318 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLTR. UBS Group restated a “neutral” rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Mizuho set a $165.00 price objective on shares of Palantir Technologies in a research note on Monday, September 15th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Citigroup restated a “neutral” rating and issued a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada increased their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Tuesday, August 5th. Five equities research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $141.28.

Palantir Technologies Stock Up 1.4%

Shares of Palantir Technologies stock opened at $179.74 on Wednesday. The stock has a market capitalization of $426.40 billion, a P/E ratio of 599.15, a price-to-earnings-growth ratio of 9.61 and a beta of 2.60. The company has a 50-day simple moving average of $171.78 and a 200 day simple moving average of $141.31. Palantir Technologies Inc. has a 12-month low of $40.36 and a 12-month high of $190.00.

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

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares in the company, valued at $66,602,675.43. The trade was a 15.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total transaction of $149,112.00. Following the sale, the director owned 62,087 shares of the company’s stock, valued at approximately $11,572,395.93. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,750 shares of company stock worth $239,713,896 over the last 90 days. Insiders own 12.93% of the company’s stock.

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.