Avondale Wealth Management Has $1.70 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Avondale Wealth Management reduced its holdings in Palantir Technologies by 18.5% in Q2, now owning 12,500 shares valued at approximately $1.70 million.
• Insider Alexander C. Karp sold 222,878 shares of Palantir stock, decreasing his ownership by 3.35%, while company insiders collectively sold over 1.6 million shares in the past three months.
• Palantir Technologies reported $1 billion in revenue for the last quarter, exceeding analyst expectations and marking a 48% year-over-year growth in revenue.

Avondale Wealth Management decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 18.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,500 shares of the company's stock after selling 2,840 shares during the period. Palantir Technologies makes up 1.0% of Avondale Wealth Management's holdings, making the stock its 18th largest position. Avondale Wealth Management's holdings in Palantir Technologies were worth $1,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock worth $984,786,000 after buying an additional 1,135,841 shares during the period. Golden State Equity Partners boosted its stake in Palantir Technologies by 10.1% during the 2nd quarter. Golden State Equity Partners now owns 18,361 shares of the company's stock worth $2,503,000 after acquiring an additional 1,677 shares during the last quarter. Hummer Financial Advisory Services Inc bought a new position in Palantir Technologies during the 2nd quarter worth approximately $225,000. Bank of New Hampshire grew its holdings in Palantir Technologies by 11.4% during the second quarter. Bank of New Hampshire now owns 19,842 shares of the company's stock valued at $2,705,000 after purchasing an additional 2,023 shares during the period. Finally, Fox Hill Wealth Management increased its stake in Palantir Technologies by 5.9% in the second quarter. Fox Hill Wealth Management now owns 41,470 shares of the company's stock valued at $5,653,000 after purchasing an additional 2,325 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,634,634 shares of company stock worth $250,524,804 over the last three months. Company insiders own 12.93% of the company's stock.

Palantir Technologies Stock Down 0.9%

Shares of PLTR stock opened at $177.57 on Monday. Palantir Technologies Inc. has a 12 month low of $36.05 and a 12 month high of $190.00. The company's fifty day simple moving average is $166.16 and its 200-day simple moving average is $134.01. The firm has a market cap of $421.26 billion, a PE ratio of 591.92, a P/E/G ratio of 9.91 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm's revenue for the quarter 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. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target 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 boosted their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Citigroup restated a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a report on Tuesday, August 5th. Finally, Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average price target of $140.22.

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.

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