APG Asset Management US Inc. Trims Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• APG Asset Management US Inc. reduced its stake in Palantir Technologies by 17.6%, now holding 51,705 shares valued at approximately $4.38 million after selling 11,029 shares in the first quarter.
• Multiple institutional investors adjusted their holdings in Palantir, with Van Hulzen Asset Management increasing their stake by 38.9% and Laffer Tengler Investments raising theirs by 333.7%.
• Palantir Technologies reported earnings of $0.16 EPS, exceeding expectations, and a revenue of $1 billion for the quarter, up 48% year-over-year.

APG Asset Management US Inc. lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 51,705 shares of the company's stock after selling 11,029 shares during the period. APG Asset Management US Inc.'s holdings in Palantir Technologies were worth $4,378,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PLTR. Van Hulzen Asset Management LLC increased its stake in shares of Palantir Technologies by 38.9% during the first quarter. Van Hulzen Asset Management LLC now owns 6,648 shares of the company's stock worth $561,000 after purchasing an additional 1,863 shares in the last quarter. Cunning Capital Partners LP purchased a new stake in shares of Palantir Technologies during the first quarter worth about $1,435,000. Strategies Wealth Advisors LLC increased its stake in shares of Palantir Technologies by 4.8% during the first quarter. Strategies Wealth Advisors LLC now owns 12,441 shares of the company's stock worth $1,050,000 after purchasing an additional 567 shares in the last quarter. Allstate Corp increased its stake in shares of Palantir Technologies by 20.8% during the first quarter. Allstate Corp now owns 72,900 shares of the company's stock worth $6,153,000 after purchasing an additional 12,556 shares in the last quarter. Finally, Laffer Tengler Investments Inc. increased its stake in shares of Palantir Technologies by 333.7% during the first quarter. Laffer Tengler Investments Inc. now owns 12,817 shares of the company's stock worth $1,082,000 after purchasing an additional 9,862 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PLTR. Royal Bank Of Canada boosted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Bank of America raised their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Four 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. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $136.61.

Palantir Technologies Trading Up 1.6%

Shares of PLTR opened at $158.74 on Friday. Palantir Technologies Inc. has a 12-month low of $29.31 and a 12-month high of $190.00. The firm has a 50-day moving average price of $153.61 and a 200 day moving average price of $121.77. The firm has a market capitalization of $376.59 billion, a P/E ratio of 529.15, a P/E/G ratio of 8.80 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm 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%. Palantir Technologies's revenue was up 48.0% on a year-over-year basis. During the same period in the previous 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 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 8,047 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $1,253,320.25. Following the transaction, the insider owned 474,399 shares of the company's stock, valued at approximately $73,887,644.25. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 9,211 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $155.75, for a total transaction of $1,434,613.25. Following the completion of the sale, the insider directly owned 343,518 shares of the company's stock, valued at $53,502,928.50. The trade was a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,906,783 shares of company stock worth $282,471,442 over the last quarter. 9.23% of the stock is currently owned by insiders.

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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