BOCHK Asset Management Ltd Decreases Stake in Palantir Technologies Inc. $PLTR

Key Points

• BOCHK Asset Management Ltd has reduced its stake in Palantir Technologies by 79.1%, now holding only 5,000 shares after selling 18,900 shares in the second quarter.
• Palantir Technologies reported a 48.0% increase in quarterly revenue year-over-year, totaling $1 billion, and surpassed earnings expectations with an EPS of $0.16.
• Several hedge funds have increased their investments in Palantir, with institutional investors now owning 45.65% of the company's stock, demonstrating a mixed sentiment in the market.

BOCHK Asset Management Ltd lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 79.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,000 shares of the company's stock after selling 18,900 shares during the quarter. Palantir Technologies accounts for approximately 0.2% of BOCHK Asset Management Ltd's portfolio, making the stock its 16th biggest position. BOCHK Asset Management Ltd's holdings in Palantir Technologies were worth $682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PLTR. Christensen King & Associates Investment Services Inc. boosted its stake in shares of Palantir Technologies by 1.3% in the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after buying an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. boosted its stake in shares of Palantir Technologies by 1.0% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after buying an additional 73 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of Palantir Technologies by 3.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock valued at $329,000 after buying an additional 80 shares in the last quarter. Oxinas Partners Wealth Management LLC boosted its stake in shares of Palantir Technologies by 2.7% in the second quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company's stock valued at $410,000 after buying an additional 80 shares in the last quarter. Finally, Optima Capital LLC boosted its stake in shares of Palantir Technologies by 0.6% in the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock valued at $1,066,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In other news, insider David A. Glazer sold 81,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the transaction, the insider directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,591,085 shares of company stock valued at $244,676,722. Company insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PLTR. Piper Sandler set a $182.00 price target on Palantir Technologies in a research note on Tuesday, August 5th. Loop Capital lifted their price target on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. 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 research note on Wednesday, August 6th. Royal Bank Of Canada lifted their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Finally, Bank of America lifted their price target on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Four research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $140.22.

Palantir Technologies Stock Performance

PLTR opened at $184.95 on Thursday. The business's fifty day moving average is $167.97 and its two-hundred day moving average is $135.33. The company has a market cap of $438.76 billion, a price-to-earnings ratio of 616.52, a PEG ratio of 10.18 and a beta of 2.60. Palantir Technologies Inc. has a one year low of $36.15 and a one year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $939.29 million. During the same period in the previous year, the business earned $0.09 earnings per share. Palantir Technologies's quarterly revenue 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, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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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