Azimuth Capital Investment Management LLC Sells 2,200 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Palantir Technologies by 17.5%, owning 10,400 shares valued at $878,000 after selling 2,200 shares in Q1.
• Palantir's quarterly earnings surpassed expectations, reporting $0.16 EPS and $1 billion in revenue, indicating a 48% year-over-year growth.
• Despite fluctuations in ownership, institutional investors hold 45.65% of Palantir Technologies' stock, reflecting significant interest from large investors.

Azimuth Capital Investment Management LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,400 shares of the company's stock after selling 2,200 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Palantir Technologies were worth $878,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Northern Trust Corp raised its stake in shares of Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Invesco Ltd. raised its holdings in Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after buying an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. raised its holdings in Palantir Technologies by 38.5% during the 1st 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 period. Charles Schwab Investment Management Inc. raised its holdings in Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after buying an additional 571,544 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Palantir Technologies by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock valued at $1,099,861,000 after purchasing an additional 187,860 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total transaction of $5,000,250.00. Following the sale, the insider directly owned 363,755 shares of the company's stock, valued at approximately $54,563,250. This represents a 8.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric H. Woersching sold 17,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the completion of the sale, the director directly owned 12,562 shares in the company, valued at $1,624,140.98. This trade represents a 57.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 628,140 shares of company stock worth $84,302,509. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 9.0%

Shares of NASDAQ:PLTR traded down $15.6890 during trading on Tuesday, hitting $158.3410. 110,362,774 shares of the company's stock traded hands, compared to its average volume of 91,103,281. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00. The company has a market cap of $375.64 billion, a price-to-earnings ratio of 527.82, a price-to-earnings-growth ratio of 9.99 and a beta of 2.60. The company has a 50-day moving average price of $151.87 and a 200-day moving average price of $120.39.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 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 analysts' expectations of $939.29 million. During the same quarter in the previous year, the business posted $0.09 EPS. The business'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, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research reports. Bank of America increased their price objective on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their target price for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 target price on Palantir Technologies in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $136.61.

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.