Institute for Wealth Management LLC. Cuts Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Institute for Wealth Management LLC. reduced its stake in Palantir Technologies by 42%, now holding 4,566 shares worth approximately $622,000.
• Several hedge funds have increased their positions in Palantir, with Price T Rowe Associates boosting theirs by 55.2% during the first quarter.
• Palantir's stock saw a recent uptick of 1.4%, opening at $184.95, with an average price target from analysts set at $140.22.

Institute for Wealth Management LLC. lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 42.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,566 shares of the company's stock after selling 3,309 shares during the period. Institute for Wealth Management LLC.'s holdings in Palantir Technologies were worth $622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PLTR. Kingstone Capital Partners Texas LLC purchased a new position in Palantir Technologies in the second quarter worth $2,543,888,000. Nuveen LLC purchased a new stake in Palantir Technologies in the first quarter worth $520,232,000. Price T Rowe Associates Inc. MD increased its position in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after buying an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after buying an additional 4,221,392 shares during the last quarter. Finally, Amundi increased its position in Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after buying an additional 3,815,386 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Cantor Fitzgerald raised their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Mizuho set a $165.00 target price on Palantir Technologies in a research report on Monday, September 15th. Finally, Citigroup reiterated a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $140.22.

Palantir Technologies Stock Up 1.4%

PLTR stock opened at $184.95 on Thursday. The firm has a market capitalization of $438.76 billion, a PE ratio of 616.52, a PEG ratio of 10.18 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $36.15 and a twelve month high of $190.00. The stock has a 50-day simple moving average of $167.97 and a two-hundred day simple moving average of $135.33.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share 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 quarter in the previous year, the firm earned $0.09 EPS. The company's quarterly 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, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the transaction, the insider owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider directly owned 702,786 shares of the company's stock, valued at $106,261,243.20. The trade was a 34.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock valued at $244,676,722 in the last ninety days. 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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