MCF Advisors LLC Cuts Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• MCF Advisors LLC reduced its stake in Palantir Technologies by 84.8% during the second quarter, now holding only 2,442 shares worth approximately $333,000.
• Insiders have sold a total of 1,634,634 shares of Palantir stock over the last three months, amounting to about $250.5 million in value.
• Palantir Technologies reported $1 billion in revenue for the last quarter, exceeding estimates, with a significant year-over-year revenue increase of 48%.

MCF Advisors LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 84.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,442 shares of the company's stock after selling 13,590 shares during the quarter. MCF Advisors LLC's holdings in Palantir Technologies were worth $333,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PLTR. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $31,000. Finally, Richardson Capital Management LLC purchased a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $33,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction that occurred 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 approximately $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the completion of the sale, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. The trade was a 99.69% 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 valued at $250,524,804 over the last three months. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $179.33 on Tuesday. Palantir Technologies Inc. has a one year low of $36.05 and a one year high of $190.00. The company has a market cap of $425.43 billion, a PE ratio of 597.79, a P/E/G ratio of 10.28 and a beta of 2.59. The business has a 50-day simple moving average of $163.92 and a 200-day simple moving average of $131.20.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PLTR shares. Citigroup reissued a "neutral" rating and issued a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their target price for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Bank of America lifted their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Four research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $138.28.

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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