Palantir Technologies Inc. $PLTR Position Cut by Burr Financial Services LLC

Key Points

• Burr Financial Services LLC reduced its holdings in Palantir Technologies by 53.2%, selling 83,318 shares, and now owns 73,168 shares, making it the firm's 4th largest holding at a value of $9,974,000.
• Other institutional investors have also adjusted their positions, with Reyes Financial Architecture Inc. increasing its stake by an impressive 696.2%, now holding 1,680 shares valued at $229,000.
• Palantir Technologies reported a quarterly revenue of $1 billion, exceeding forecasts, and analysts project an earnings per share of 0.31 for the current fiscal year, although the stock has received a mix of ratings from analysts, including a downgrade to "hold."

Burr Financial Services LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 53.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,168 shares of the company's stock after selling 83,318 shares during the quarter. Palantir Technologies comprises approximately 8.4% of Burr Financial Services LLC's investment portfolio, making the stock its 4th biggest position. Burr Financial Services LLC's holdings in Palantir Technologies were worth $9,974,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mechanics Financial Corp bought a new position in shares of Palantir Technologies during the first quarter worth approximately $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Palantir Technologies during the first quarter worth approximately $27,000. 1248 Management LLC bought a new position in shares of Palantir Technologies during the first quarter worth approximately $27,000. Richardson Capital Management LLC acquired a new stake in Palantir Technologies during the first quarter worth about $33,000. Finally, Cornerstone Planning Group LLC increased its holdings in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after buying an additional 185 shares during the period. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $138.28.

Palantir Technologies Trading Up 3.9%

Shares of PLTR traded up $6.93 during trading hours on Friday, reaching $183.90. The stock had a trading volume of 48,424,545 shares, compared to its average volume of 88,856,391. The firm has a 50-day simple moving average of $162.51 and a 200 day simple moving average of $129.24. Palantir Technologies Inc. has a 12 month low of $35.71 and a 12 month high of $190.00. The company has a market capitalization of $436.27 billion, a price-to-earnings ratio of 612.37, a P/E/G ratio of 9.49 and a beta of 2.59.

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

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the sale, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This 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 can be accessed through this link. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,625,634 shares of company stock worth $248,926,404 over the last three months. Corporate insiders own 9.23% 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.