Bosman Wealth Management LLC Sells 30,450 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Bosman Wealth Management LLC reduced its stake in Palantir Technologies by 25.1%, selling 30,450 shares and retaining 91,011 shares, which makes Palantir approximately 11.0% of its investment portfolio.
• Palantir's stock price target was increased by several analysts, with Citigroup raising its target to $177.00 and The Goldman Sachs Group to $141.00, although the consensus rating remains a "Hold".
• Insiders have sold over 1.5 million shares of Palantir stock in the last quarter, including significant sales from insiders Stephen Andrew Cohen and David A. Glazer, indicating a notable decrease in their positions.

Bosman Wealth Management LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 25.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,011 shares of the company's stock after selling 30,450 shares during the period. Palantir Technologies makes up approximately 11.0% of Bosman Wealth Management LLC's investment portfolio, making the stock its largest position. Bosman Wealth Management LLC's holdings in Palantir Technologies were worth $12,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Northern Trust Corp grew its stake in shares of Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Palantir Technologies in the second quarter valued at about $2,543,888,000. Invesco Ltd. grew its stake 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 acquiring an additional 2,998,716 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after acquiring an additional 4,221,392 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Palantir Technologies by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after acquiring an additional 571,544 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup restated a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Royal Bank Of Canada increased their price objective 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. Loop Capital increased their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $140.22.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the completion of the transaction, the insider owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock worth $244,676,722 over the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Up 0.7%

PLTR stock opened at $178.86 on Tuesday. The stock has a market capitalization of $424.32 billion, a P/E ratio of 596.22, a price-to-earnings-growth ratio of 9.91 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $36.05 and a 12 month high of $190.00. The firm has a 50-day moving average price of $166.70 and a 200-day moving average price of $134.65.

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. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.

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