Rhumbline Advisers Sells 220,163 Shares of Palantir Technologies Inc. $PLTR

Rhumbline Advisers reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 5.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,966,326 shares of the company’s stock after selling 220,163 shares during the period. Palantir Technologies accounts for 0.5% of Rhumbline Advisers’ investment portfolio, making the stock its 25th biggest holding. Rhumbline Advisers’ holdings in Palantir Technologies were worth $540,689,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PLTR. Vanguard Group Inc. grew its holdings in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after acquiring an additional 7,194,216 shares during the period. Northern Trust Corp raised its position in shares of Palantir Technologies by 0.3% during the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock worth $1,650,310,000 after purchasing an additional 64,973 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth about $2,543,888,000. Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after buying an additional 4,221,392 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $154.85 on Friday. The company has a market cap of $369.08 billion, a price-to-earnings ratio of 368.70, a P/E/G ratio of 6.04 and a beta of 2.63. The firm has a 50-day moving average of $180.34 and a 200-day moving average of $157.85. Palantir Technologies Inc. has a one year low of $61.37 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the business earned $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. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Cantor Fitzgerald increased their target price on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Citigroup boosted their price target on Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Royal Bank Of Canada upped their price objective on Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 4th. Finally, Mizuho lifted their target price on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $172.28.

Insider Buying and Selling

In other news, insider Jeffrey Buckley sold 2,803 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the sale, the insider owned 50,961 shares in the company, valued at $8,000,877. This represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $186.39, for a total transaction of $149,112.00. Following the completion of the transaction, the director directly owned 62,087 shares of the company’s stock, valued at $11,572,395.93. This represents a 1.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 150,651 shares of company stock worth $23,892,804. 9.23% of the stock is currently owned by company insiders.

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.