Kingswood Wealth Advisors LLC Decreases Position in Palantir Technologies Inc. $PLTR

Key Points

• Kingswood Wealth Advisors LLC decreased its stake in Palantir Technologies by 65.4% in the second quarter, now holding about 52,676 shares valued at $7.18 million.
• Palantir Technologies reported a 48% year-over-year increase in revenue for the last quarter, totaling $1 billion, with earnings per share beating estimates by $0.02.
• Insiders have sold a significant amount of stock in recent months, with one insider selling 81,000 shares for over $12.5 million, highlighting notable insider activity in the company.

Kingswood Wealth Advisors LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 65.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,676 shares of the company's stock after selling 99,465 shares during the period. Palantir Technologies accounts for about 0.6% of Kingswood Wealth Advisors LLC's portfolio, making the stock its 27th biggest position. Kingswood Wealth Advisors LLC's holdings in Palantir Technologies were worth $7,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp raised its position in Palantir Technologies by 4.2% during the second quarter. Truist Financial Corp now owns 537,000 shares of the company's stock valued at $73,204,000 after purchasing an additional 21,809 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Palantir Technologies by 10.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock valued at $984,786,000 after purchasing an additional 1,135,841 shares during the period. New Century Financial Group LLC purchased a new stake in Palantir Technologies during the second quarter valued at approximately $228,000. Synergy Asset Management LLC raised its holdings in shares of Palantir Technologies by 37.1% in the second quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock worth $1,312,000 after buying an additional 2,606 shares during the period. Finally, Golden State Equity Partners raised its holdings in shares of Palantir Technologies by 10.1% in the second quarter. Golden State Equity Partners now owns 18,361 shares of the company's stock worth $2,503,000 after buying an additional 1,677 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 3.7%

PLTR opened at $179.53 on Tuesday. The company has a market capitalization of $425.91 billion, a P/E ratio of 598.45, a PEG ratio of 9.66 and a beta of 2.60. The stock's fifty day moving average is $169.33 and its two-hundred day moving average is $137.95. Palantir Technologies Inc. has a 52 week low of $38.78 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business's revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLTR. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and increased their price target for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a 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 given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $140.22.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares of the company's stock, valued at $48,687,874.50. The trade was a 10.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,591,085 shares of company stock worth $244,676,722. 12.93% of the stock is currently owned by company insiders.

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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