Palantir Technologies Inc. $PLTR is EFG Asset Management North America Corp.'s 6th Largest Position

Key Points

• EFG Asset Management North America Corp. reduced its stake in Palantir Technologies by 20.5%, now holding 137,237 shares, making it the firm's 6th largest position.
• Palantir Technologies experienced significant insider selling, with insiders liquidating over 1.9 million shares valued at approximately $282.9 million in the last ninety days.
• Despite recent fluctuations, Palantir reported a 48% increase in quarterly revenue year-over-year, achieving $1 billion compared to a consensus estimate of $939.29 million.

EFG Asset Management North America Corp. trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,237 shares of the company's stock after selling 35,445 shares during the period. Palantir Technologies comprises about 1.9% of EFG Asset Management North America Corp.'s holdings, making the stock its 6th biggest position. EFG Asset Management North America Corp.'s holdings in Palantir Technologies were worth $11,581,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mechanics Financial Corp purchased a new stake in Palantir Technologies during the first quarter worth $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter worth about $27,000. Richardson Capital Management LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter worth about $33,000. Finally, Cornerstone Planning Group LLC grew its stake in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PLTR. 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 report on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Royal Bank Of Canada increased their target price on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Loop Capital boosted their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, UBS Group restated a "neutral" rating and issued a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $136.61.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 8,047 shares of Palantir Technologies stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $1,253,320.25. Following the sale, the insider directly owned 474,399 shares of the company's stock, valued at approximately $73,887,644.25. The trade was a 1.67% decrease in their ownership of the stock. 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 9,211 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $1,434,613.25. Following the sale, the insider owned 343,518 shares of the company's stock, valued at approximately $53,502,928.50. This trade represents a 2.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,909,586 shares of company stock valued at $282,911,513. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Down 1.4%

NASDAQ PLTR opened at $154.90 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The business has a 50 day moving average price of $156.31 and a two-hundred day moving average price of $124.19. The stock has a market cap of $367.48 billion, a PE ratio of 516.35, a P/E/G ratio of 8.83 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the firm earned $0.09 earnings per share. 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. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.