QRG Capital Management Inc. Sells 2,848 Shares of Palantir Technologies Inc. $PLTR

QRG Capital Management Inc. lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 375,308 shares of the company’s stock after selling 2,848 shares during the quarter. QRG Capital Management Inc.’s holdings in Palantir Technologies were worth $51,162,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Christensen King & Associates Investment Services Inc. lifted its holdings in Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock worth $747,000 after acquiring an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. increased its position in Palantir Technologies by 1.0% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock worth $1,007,000 after buying an additional 73 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in Palantir Technologies by 3.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company’s stock worth $329,000 after buying an additional 80 shares during the last quarter. Oxinas Partners Wealth Management LLC grew its position in shares of Palantir Technologies by 2.7% in the second quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company’s stock valued at $410,000 after purchasing an additional 80 shares in the last quarter. Finally, Optima Capital LLC grew its position in shares of Palantir Technologies by 0.6% in the first quarter. Optima Capital LLC now owns 12,626 shares of the company’s stock valued at $1,066,000 after purchasing an additional 81 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares of the company’s stock, valued at $48,687,874.50. This represents a 10.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction on 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 transaction, the insider directly owned 431,169 shares in the company, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,591,085 shares of company stock worth $244,676,722. Insiders own 9.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on PLTR shares. UBS Group restated a “neutral” rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Mizuho set a $165.00 price target on Palantir Technologies in a report on Monday, September 15th. Finally, Bank of America boosted their price target on Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $140.22.

Palantir Technologies Stock Down 7.5%

Palantir Technologies stock opened at $173.07 on Friday. The company has a market capitalization of $410.58 billion, a P/E ratio of 576.92, a PEG ratio of 10.44 and a beta of 2.60. The stock’s 50 day moving average is $168.90 and its 200 day moving average is $136.63. Palantir Technologies Inc. has a twelve month low of $38.78 and a twelve month high of $190.00.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the prior year, the business posted $0.09 EPS. The firm’s quarterly revenue 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, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS 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.