Belpointe Asset Management LLC Reduces Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Belpointe Asset Management LLC has decreased its stake in Palantir Technologies by 17.3% during the first quarter, retaining 65,265 shares valued at approximately $5.5 million.
• Palantir Technologies recently reported a 48.0% increase in revenue year-over-year, with quarterly earnings per share of $0.16, exceeding analyst expectations.
• Several institutional investors, including Nuveen LLC and Price T Rowe Associates Inc., significantly increased their holdings in Palantir during the first quarter, contributing to a total of 45.65% institutional ownership of the stock.

Belpointe Asset Management LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,265 shares of the company's stock after selling 13,676 shares during the quarter. Belpointe Asset Management LLC's holdings in Palantir Technologies were worth $5,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PLTR. Nuveen LLC bought a new position in Palantir Technologies during the 1st quarter worth $520,232,000. Price T Rowe Associates Inc. MD boosted its position in Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares during the period. Goldman Sachs Group Inc. boosted its position in Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. Amundi lifted its holdings in shares of Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after buying an additional 3,815,386 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after buying an additional 2,998,716 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 4.0%

PLTR opened at $162.36 on Wednesday. The firm has a market capitalization of $385.17 billion, a P/E ratio of 541.22, a price-to-earnings-growth ratio of 8.80 and a beta of 2.59. The stock's 50 day moving average price is $158.03 and its two-hundred day moving average price is $125.50. Palantir Technologies Inc. has a 12-month low of $33.62 and a 12-month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the firm earned $0.09 EPS. Palantir Technologies'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. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on PLTR. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Loop Capital upped their target price on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Bank of America increased their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $136.61.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at $112,129,506.30. The trade was a 4.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,604,634 shares of company stock worth $245,441,454 in the last three months. Company insiders own 12.93% of the company's stock.

Palantir Technologies 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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.