LRI Investments LLC Trims Holdings in Palantir Technologies Inc. $PLTR

Key Points

• LRI Investments cut its Palantir stake by 74.3% in the second quarter, selling 5,109 shares and retaining 1,769 shares valued at approximately $206,000.
• Other institutional investors initiated or increased positions, and institutional ownership stands at 45.65% of Palantir’s outstanding shares.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $192.19. Palantir recently exceeded earnings and revenue expectations, reporting $1.94 billion in quarterly revenue, up 92.8% year over year.

LRI Investments LLC decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 74.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,769 shares of the company's stock after selling 5,109 shares during the period. LRI Investments LLC's holdings in Palantir Technologies were worth $206,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $29,000. Morton Brown Family Wealth LLC boosted its position in shares of Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after acquiring an additional 125 shares during the period. Cornerstone Financial Management LLC purchased a new position in Palantir Technologies during the fourth quarter valued at approximately $31,000. Wexford Capital LP purchased a new position in Palantir Technologies during the third quarter valued at approximately $36,000. Finally, Prudent Man Investment Management Inc. purchased a new position in Palantir Technologies during the fourth quarter valued at approximately $35,000. Institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent analyst reports. Benchmark reiterated a "hold" rating on shares of Palantir Technologies in a research note on Tuesday, August 4th. Wedbush started coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an "outperform" rating on the stock. UBS Group set a $215.00 price objective on Palantir Technologies in a research report on Tuesday. William Blair assumed coverage on Palantir Technologies in a research note on Tuesday, August 4th. They set a "neutral" rating for the company. Finally, Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of Palantir Technologies in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $192.19.

Palantir Technologies News Summary

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 Price Performance

Shares of Palantir Technologies stock opened at $179.01 on Friday. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52. The firm has a market cap of $429.14 billion, a PE ratio of 153.00, a PEG 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 (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business's revenue for the quarter was up 92.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, research analysts anticipate that Palantir Technologies Inc. will post 1.26 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 19,662 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the sale, the insider owned 199,759 shares of the company's stock, valued at $27,175,214.36. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares of the company's stock, valued at $51,047,921.68. The trade was a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,150,302 shares of company stock valued at $156,197,565 in the last three months. 9.53% of the stock is owned by corporate insiders.

About Palantir Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source