Ameriprise Financial Inc. Sells 52,775 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Ameriprise Financial Inc. has reduced its stake in Palantir Technologies Inc. by 2.1%, now holding approximately 2.4 million shares valued at about $207.6 million as per the latest SEC filing.
• In the first quarter, several institutional investors, including Assenagon Asset Management S.A. and Menard Financial Group LLC, have adjusted their positions in Palantir, indicating ongoing interest in the stock.
• Palantir Technologies reported a 48% year-over-year revenue increase, with earnings of $0.16 per share for the quarter, exceeding analyst expectations.

Ameriprise Financial Inc. trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,428,611 shares of the company's stock after selling 52,775 shares during the period. Ameriprise Financial Inc. owned about 0.10% of Palantir Technologies worth $207,593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PLTR. Northern Trust Corp boosted its position in Palantir Technologies by 0.3% during the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares during the last quarter. Invesco Ltd. boosted its position in Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after acquiring an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Palantir Technologies by 38.5% during 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 acquiring an additional 4,221,392 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after acquiring an additional 571,544 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Palantir Technologies by 55.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after acquiring an additional 4,748,513 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the completion of the transaction, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the sale, 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 can be found here. Insiders sold 1,906,783 shares of company stock valued at $282,471,442 in the last quarter. 12.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Bank of America increased their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $136.61.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $2.56 on Friday, hitting $158.74. The stock had a trading volume of 101,782,072 shares, compared to its average volume of 79,335,152. The stock has a market cap of $376.59 billion, a P/E ratio of 529.15, a price-to-earnings-growth ratio of 8.95 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year high of $190.00. The firm's fifty day simple moving average is $153.61 and its two-hundred day simple moving average is $121.98.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 48.0% on a year-over-year basis. During the same period 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 predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.