Edge Wealth Management LLC Reduces Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Edge Wealth Management LLC reduced its holdings in Palantir Technologies by 22.7% in Q2, selling 1,419 shares and leaving it with 4,835 shares valued at $659,000.
• Palantir Technologies reported earnings of $0.16 per share in its last quarter, surpassing expectations, while revenue rose by 48% year-over-year to $1 billion.
• Recent analyst reports have generally been positive, with firms like Deutsche Bank and Bank of America raising their ratings and price targets, indicating a consensus rating of "Hold" for the stock.

Edge Wealth Management LLC reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 22.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,835 shares of the company's stock after selling 1,419 shares during the period. Edge Wealth Management LLC's holdings in Palantir Technologies were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Northern Trust Corp grew its stake in shares of Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after buying an additional 64,973 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter worth about $2,543,888,000. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of 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 purchasing an additional 4,221,392 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after purchasing an additional 571,544 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR stock opened at $182.39 on Friday. The firm's fifty day simple moving average is $163.32 and its 200-day simple moving average is $130.19. The company has a market capitalization of $432.69 billion, a P/E ratio of 607.99, a price-to-earnings-growth ratio of 10.28 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $35.71 and a 12 month 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 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $939.29 million. During the same period in the previous year, the business posted $0.09 EPS. The business's 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. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their price target for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Bank of America lifted their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Mizuho set a $165.00 price objective on shares of Palantir Technologies in a report on Monday, September 15th. Finally, Citigroup reiterated a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $138.28.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction 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 transaction, 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. Over the last 90 days, insiders sold 1,625,634 shares of company stock worth $248,926,404. 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.

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