Sheets Smith Investment Management Sells 14,900 Shares of Palantir Technologies Inc. $PLTR

Sheets Smith Investment Management cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 50.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,889 shares of the company’s stock after selling 14,900 shares during the quarter. Palantir Technologies accounts for about 1.3% of Sheets Smith Investment Management’s holdings, making the stock its 21st biggest holding. Sheets Smith Investment Management’s holdings in Palantir Technologies were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PLTR. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies during the fourth quarter valued at approximately $450,000. Bison Wealth LLC raised its position in Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after purchasing an additional 4,667 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Palantir Technologies by 120.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 16,583 shares of the company’s stock valued at $1,254,000 after purchasing an additional 9,052 shares in the last quarter. Nuveen Asset Management LLC raised its position in Palantir Technologies by 6.8% during the fourth quarter. Nuveen Asset Management LLC now owns 5,219,689 shares of the company’s stock valued at $394,765,000 after purchasing an additional 332,546 shares in the last quarter. Finally, NorthRock Partners LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at about $2,035,000. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLTR. Royal Bank Of Canada raised their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research report on Tuesday, August 5th. The Goldman Sachs Group raised their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Loop Capital raised their price target on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Mizuho upgraded shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $136.61.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider owned 307,470 shares of the company’s stock, valued at $48,687,874.50. This trade represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Glazer sold 81,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was 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 directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,604,634 shares of company stock worth $245,441,454. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Down 1.4%

Shares of NASDAQ PLTR opened at $164.36 on Friday. Palantir Technologies Inc. has a 52 week low of $34.53 and a 52 week high of $190.00. The firm’s fifty day moving average is $159.32 and its 200 day moving average is $126.29. The company has a market cap of $389.92 billion, a price-to-earnings ratio of 547.88, a PEG ratio of 9.40 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company’s revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts anticipate 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.