Hodges Capital Management Inc. Sells 2,926 Shares of Palantir Technologies Inc. $PLTR

Hodges Capital Management Inc. reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,968 shares of the company’s stock after selling 2,926 shares during the period. Palantir Technologies makes up about 1.8% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 12th biggest position. Hodges Capital Management Inc.’s holdings in Palantir Technologies were worth $18,808,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Mechanics Financial Corp bought a new position in shares of Palantir Technologies in the 1st quarter worth $25,000. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies in the second quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies in the first quarter valued at about $27,000. 1248 Management LLC acquired a new position in Palantir Technologies in the first quarter valued at about $27,000. Finally, Briaud Financial Planning Inc bought a new position in Palantir Technologies during the second quarter worth about $27,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the sale, the insider owned 592 shares of the company’s stock, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 222,878 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,527,750 shares of company stock worth $234,463,896. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $177.93 on Monday. The firm has a market cap of $422.11 billion, a P/E ratio of 423.65, a PEG ratio of 6.90 and a beta of 2.63. Palantir Technologies Inc. has a twelve month low of $55.30 and a twelve month high of $207.52. The firm’s 50 day moving average price is $177.73 and its two-hundred day moving average price is $154.47.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. DA Davidson boosted their target price on Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Bank of America boosted their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Daiwa Capital Markets upped their target price on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday. Wall Street Zen upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley boosted their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $173.45.

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.