International Assets Investment Management LLC Has $21.25 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• International Assets Investment Management LLC reduced its holdings in Palantir Technologies Inc. by 13%, now owning 155,906 shares valued at approximately $21.25 million.
• A significant number of hedge funds adjusted their positions in Palantir during the second quarter, with Virginia Retirement Systems acquiring a new stake valued at about $44.5 million.
• Wall Street analysts have mixed ratings on Palantir Technologies, with an average target price of $141.28 and a distribution of ratings that includes five Buy, fifteen Hold, and two Sell recommendations.

International Assets Investment Management LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,906 shares of the company's stock after selling 23,319 shares during the quarter. Palantir Technologies makes up 1.1% of International Assets Investment Management LLC's holdings, making the stock its 13th biggest holding. International Assets Investment Management LLC's holdings in Palantir Technologies were worth $21,253,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Palantir Technologies during the second quarter valued at about $44,495,000. Mutual of America Capital Management LLC raised its position in shares of Palantir Technologies by 2.3% during the second quarter. Mutual of America Capital Management LLC now owns 243,908 shares of the company's stock worth $33,250,000 after acquiring an additional 5,565 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV bought a new position in shares of Palantir Technologies during the second quarter worth about $204,000. Novare Capital Management LLC raised its position in shares of Palantir Technologies by 68.4% during the second quarter. Novare Capital Management LLC now owns 9,000 shares of the company's stock worth $1,227,000 after acquiring an additional 3,655 shares during the last quarter. Finally, Conway Capital Management Inc. raised its position in shares of Palantir Technologies by 31.8% during the second quarter. Conway Capital Management Inc. now owns 4,025 shares of the company's stock worth $549,000 after acquiring an additional 970 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Loop Capital raised their price objective on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and an average price target of $141.28.

Insider Activity

In other 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 owned 50,961 shares in the company, valued at $8,000,877. The trade was a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,557,750 shares of company stock valued at $239,713,896. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $178.15 on Friday. Palantir Technologies Inc. has a 52-week low of $40.90 and a 52-week high of $190.00. The business's 50 day moving average price is $171.52 and its two-hundred day moving average price is $143.25. The firm has a market cap of $422.63 billion, a PE ratio of 593.85, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly 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 return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The company'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. Research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.