Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 4,880 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Empirical Wealth Management reduced its Palantir position by 14.9% in the second quarter, selling 4,880 shares and retaining 27,800 shares valued at approximately $3.24 million.
• Several major institutions increased their holdings, while institutional investors collectively owned 45.65% of Palantir’s stock. Insiders, however, sold 1.15 million shares worth about $156.2 million over the past three months.
• Palantir reported strong quarterly results, with revenue up 92.8% year over year to $1.94 billion and EPS of $0.41 versus expectations of $0.34. Analysts’ consensus rating remains “Moderate Buy,” with an average price target of $192.19.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,800 shares of the company's stock after selling 4,880 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Palantir Technologies were worth $3,243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Palantir Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock valued at $38,295,188,000 after acquiring an additional 1,557,828 shares in the last quarter. State Street Corp lifted its stake in Palantir Technologies by 1.1% in the fourth quarter. State Street Corp now owns 102,385,317 shares of the company's stock worth $18,198,990,000 after acquiring an additional 1,126,418 shares during the period. Geode Capital Management LLC grew its holdings in Palantir Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company's stock worth $9,599,882,000 after acquiring an additional 805,047 shares in the last quarter. Norges Bank bought a new position in Palantir Technologies during the 4th quarter worth about $5,149,641,000. Finally, Invesco Ltd. increased its position in Palantir Technologies by 2.8% during the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company's stock valued at $3,984,281,000 after purchasing an additional 616,297 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Activity

In related news, insider Shyam Sankar sold 35,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $155.70, for a total transaction of $5,449,500.00. Following the completion of the sale, the insider owned 642,786 shares of the company's stock, valued at $100,081,780.20. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,481 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total transaction of $190,752.80. Following the completion of the sale, the insider owned 60,226 shares of the company's stock, valued at approximately $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,150,302 shares of company stock worth $156,197,565. 9.53% of the stock is currently owned by insiders.

Trending Headlines about Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Blowout quarterly performance remains the primary catalyst. Palantir reported revenue of $1.94 billion, up 92.8% year over year and above the $1.81 billion consensus estimate. Adjusted earnings also exceeded expectations, while management raised its full-year outlook. The results reinforced confidence that growth in government and commercial AI applications is accelerating. Palantir Stock Forecast – How Much Upside Do Analysts Expect?
• Positive Sentiment: Artificial Intelligence Platform adoption is supporting the long-term growth narrative. Articles highlight Palantir’s AIP as a key driver of its shift from a primarily government contractor to a broader enterprise AI partner. Strong U.S. demand, sovereign AI spending and a growing commercial pipeline are fueling bullish forecasts, including expectations for continued earnings momentum. Palantir AIP Could Deliver a Powerful Shift in the Company’s Growth Trajectory
• Positive Sentiment: Market momentum and broader risk appetite are helping AI software names. Palantir was identified as breaking through a new buy point as investors favored AI-linked companies and remained optimistic about U.S. technology and defense demand. Palantir Shares Edge Higher Thursday: What’s Driving the Action?

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $179.01 on Friday. The company has a market capitalization of $429.14 billion, a PE ratio of 153.00, a P/E/G ratio of 2.44 and a beta of 1.59. The company has a 50-day simple moving average of $133.83 and a two-hundred day simple moving average of $139.92. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same period last year, the business earned $0.16 EPS. The company's revenue was up 92.8% compared to the same quarter last year. On average, equities analysts predict that Palantir Technologies Inc. will post 1.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLTR. BNP Paribas Exane began coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an "underperform" rating for the company. UBS Group set a $215.00 price objective on shares of Palantir Technologies in a research note on Tuesday. Jefferies Financial Group reissued an "underperform" rating and set a $80.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 4th. Piper Sandler reissued an "overweight" rating and issued a $230.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, HSBC downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $205.00 to $151.00 in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Moderate Buy" and an average target price of $192.19.

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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