EverSource Wealth Advisors LLC Decreases Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• EverSource Wealth Advisors LLC reduced its holdings in Palantir Technologies by 20.4% in Q1, now owning 178,637 shares, valued at approximately $15 million.
• A number of institutional investors, including Goldman Sachs and Nuveen LLC, have increased their stakes, with Goldman Sachs raising its position by 38.5%.
• Palantir reported a net margin of 22.18% and revenue of $1 billion in its latest quarter, exceeding analysts' expectations.

EverSource Wealth Advisors LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,637 shares of the company's stock after selling 45,705 shares during the quarter. Palantir Technologies makes up approximately 0.8% of EverSource Wealth Advisors LLC's portfolio, making the stock its 26th biggest position. EverSource Wealth Advisors LLC's holdings in Palantir Technologies were worth $15,077,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in shares of Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the last quarter. Garrison Bradford & Associates Inc. acquired a new stake in Palantir Technologies during the 1st quarter valued at approximately $45,000. Menard Financial Group LLC raised its holdings in Palantir Technologies by 8.2% during the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock worth $2,189,000 after purchasing an additional 1,964 shares during the last quarter. TCW Group Inc. raised its stake in Palantir Technologies by 14.5% during the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after buying an additional 4,068 shares during the last quarter. Finally, Sagespring Wealth Partners LLC boosted its position in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after acquiring an additional 6,405 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 34,357 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.96, for a total transaction of $4,327,607.72. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $74,568.32. The trade was a 98.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $5,000,250.00. Following the completion of the sale, the insider owned 363,755 shares in the company, valued at $54,563,250. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 628,140 shares of company stock valued at $84,302,509 in the last quarter. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

PLTR stock traded down $12.1570 during midday trading on Tuesday, reaching $161.8730. 63,921,101 shares of the company's stock traded hands, compared to its average volume of 90,815,016. The firm has a market capitalization of $384.02 billion, a PE ratio of 539.72, 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 two-hundred day moving average price of $120.39. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data 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. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company 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 company posted $0.09 EPS. The firm's revenue for the quarter 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. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLTR. Bank of America raised their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Loop Capital raised their target price on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Finally, Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $136.61.

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.