Global Trust Asset Management LLC Sells 3,037 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Global Trust Asset Management LLC reduced its holdings in Palantir Technologies by 7.7%, selling 3,037 shares, with the remaining 36,248 shares worth approximately $4.9 million.
• Palantir's earnings report showed a 48% year-over-year revenue increase with earnings per share of $0.16, exceeding analyst expectations.
• Insiders have sold over 1.6 million shares of Palantir stock valued at approximately $250 million in the last three months, indicating significant internal profit-taking.

Global Trust Asset Management LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,248 shares of the company's stock after selling 3,037 shares during the quarter. Palantir Technologies makes up approximately 2.6% of Global Trust Asset Management LLC's portfolio, making the stock its 6th biggest position. Global Trust Asset Management LLC's holdings in Palantir Technologies were worth $4,941,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PLTR. Signature Resources Capital Management LLC acquired a new position in Palantir Technologies during the 2nd quarter worth about $25,000. Family Legacy Financial Solutions LLC acquired a new position in Palantir Technologies during the 2nd quarter worth about $31,000. Adirondack Trust Co. lifted its holdings in Palantir Technologies by 185.0% during the 2nd quarter. Adirondack Trust Co. now owns 285 shares of the company's stock worth $39,000 after buying an additional 185 shares during the period. Mechanics Financial Corp acquired a new position in Palantir Technologies during the 1st quarter worth about $25,000. Finally, Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies during the 1st quarter worth about $27,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $177.57 on Monday. Palantir Technologies Inc. has a one year low of $36.05 and a one year high of $190.00. The firm has a market capitalization of $421.26 billion, a price-to-earnings ratio of 591.92, a PEG ratio of 9.91 and a beta of 2.59. The business has a 50-day simple moving average of $166.16 and a 200 day simple moving average of $134.01.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating 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 business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the company posted $0.09 EPS. The firm'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. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on PLTR. UBS Group reaffirmed a "neutral" rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Loop Capital boosted their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Mizuho set a $165.00 price objective on Palantir Technologies in a research note on Monday, September 15th. Finally, Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $140.22.

Insiders Place Their Bets

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,803 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares of the company's stock, valued at approximately $8,000,877. The trade was a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $177.60, for a total value of $1,598,400.00. Following the sale, the director directly owned 50,794 shares of the company's stock, valued at $9,021,014.40. This represents a 15.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,634,634 shares of company stock worth $250,524,804 over the last three months. Insiders own 12.93% of the company's stock.

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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