Alliancebernstein L.P. Cuts Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Alliancebernstein L.P. has reduced its holdings in Palantir Technologies by 2.4%, selling 65,039 shares and maintaining a portfolio of approximately 2.7 million shares worth $227.9 million.
• Palantir Technologies reported a revenue increase of 48.0% year-over-year for its latest quarter, with earnings per share exceeding estimates at $0.16.
• Insider sales amounted to 1.9 million shares worth nearly $283 million over the last three months, indicating significant activity among company executives.

Alliancebernstein L.P. lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,700,619 shares of the company's stock after selling 65,039 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of Palantir Technologies worth $227,932,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Allegiance Financial Group Advisory Services LLC boosted its holdings in Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after acquiring an additional 84 shares during the period. Delta Investment Management LLC lifted its stake in shares of Palantir Technologies by 1.9% in the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock worth $398,000 after acquiring an additional 90 shares in the last quarter. Sovran Advisors LLC lifted its stake in shares of Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after acquiring an additional 94 shares in the last quarter. Lodestone Wealth Management LLC boosted its stake in shares of Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares during the last quarter. Finally, Continuum Advisory LLC boosted its stake in Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $154.90 on Thursday. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The firm has a market cap of $367.48 billion, a PE ratio of 516.35, a P/E/G ratio of 8.83 and a beta of 2.59. The firm's 50 day moving average price is $156.31 and its two-hundred day moving average price is $124.19.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion for 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%. Palantir Technologies's revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the transaction, the insider owned 592 shares of the company's stock, valued at approximately $89,611.04. This trade represents a 99.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,909,586 shares of company stock worth $282,911,513. Corporate insiders own 9.23% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on PLTR shares. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Finally, Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a report on Tuesday, August 5th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $136.61.

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.

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