Baird Financial Group Inc. Sells 169,425 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Baird Financial Group Inc. reduced its stake in Palantir Technologies by 33.0%, selling 169,425 shares and holding a total of 343,880 shares valued at $29 million at the end of the first quarter.
• Several institutional investors, including Nuveen LLC and Price T Rowe Associates, have also increased their stakes in Palantir Technologies, reflecting ongoing interest in the company.
• Palantir recently reported a quarterly revenue of $1 billion and an earnings per share of $0.16, surpassing analysts' expectations and exhibiting a 48% year-over-year growth.

Baird Financial Group Inc. decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 343,880 shares of the company's stock after selling 169,425 shares during the quarter. Baird Financial Group Inc.'s holdings in Palantir Technologies were worth $29,023,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Palantir Technologies by 87.4% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 5,200 shares of the company's stock worth $439,000 after purchasing an additional 2,425 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Palantir Technologies by 1.2% in the 1st quarter. Panagora Asset Management Inc. now owns 1,672,720 shares of the company's stock worth $141,178,000 after purchasing an additional 19,791 shares during the last quarter. Activest Wealth Management grew its holdings in shares of Palantir Technologies by 180.4% in the 1st quarter. Activest Wealth Management now owns 1,772 shares of the company's stock worth $150,000 after purchasing an additional 1,140 shares during the last quarter. Aragon Global Management LP bought a new stake in shares of Palantir Technologies in the 1st quarter worth about $10,693,000. Finally, Vident Advisory LLC grew its holdings in shares of Palantir Technologies by 22.0% in the 1st quarter. Vident Advisory LLC now owns 1,736,086 shares of the company's stock worth $146,526,000 after purchasing an additional 312,910 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 0.2%

Palantir Technologies stock traded up $0.38 during mid-day trading on Tuesday, hitting $157.09. The stock had a trading volume of 65,275,079 shares, compared to its average volume of 91,396,188. The stock has a 50-day simple moving average of $155.80 and a two-hundred day simple moving average of $123.74. The stock has a market capitalization of $372.67 billion, a PE ratio of 523.65, a P/E/G ratio of 8.83 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00.

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 the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company's quarterly revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLTR. The Goldman Sachs Group lifted their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $136.61.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the transaction, the insider owned 363,755 shares of the company's stock, valued at approximately $49,219,689.05. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,906,783 shares of company stock worth $282,471,442. Corporate insiders own 12.93% of the company's stock.

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.