Palantir Technologies Inc. $PLTR Shares Sold by Affinity Wealth Management LLC

Key Points

• Affinity Wealth Management LLC reduced its stake in Palantir Technologies by 1.2%, owning 122,243 shares valued at approximately $16.66 million, making it the 15th largest position in their portfolio.
• Palantir Technologies reported earnings of $0.16 per share, exceeding expectations, with revenue reaching $1 billion for the quarter, a 48% increase year-over-year.
• Insider sales include Shyam Sankar selling 375,000 shares for $56.7 million, leading to a 34.79% decrease in his ownership, while other insiders have sold over 1.6 million shares in the last 90 days.

Affinity Wealth Management LLC decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,243 shares of the company's stock after selling 1,441 shares during the period. Palantir Technologies makes up 2.7% of Affinity Wealth Management LLC's portfolio, making the stock its 15th biggest position. Affinity Wealth Management LLC's holdings in Palantir Technologies were worth $16,664,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Mechanics Financial Corp acquired a new position in Palantir Technologies during the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies during the 1st quarter valued at about $27,000. 1248 Management LLC acquired a new position in Palantir Technologies during the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC acquired a new position in Palantir Technologies during the 2nd quarter valued at about $31,000. Finally, Richardson Capital Management LLC acquired a new position in Palantir Technologies during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $179.56 on Thursday. Palantir Technologies Inc. has a one year low of $36.05 and a one year high of $190.00. The company has a 50-day moving average of $165.17 and a two-hundred day moving average of $131.89. The stock has a market cap of $425.98 billion, a price-to-earnings ratio of 598.55, a PEG ratio of 10.29 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 EPS for the quarter, topping 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 company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same period last year, the company posted $0.09 earnings per share. The business's revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research analyst reports. Mizuho set a $165.00 target price on shares of Palantir Technologies in a research note on Monday, September 15th. Citigroup restated a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. UBS Group restated a "neutral" rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Loop Capital raised their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $140.22.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 375,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction 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 $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,634,634 shares of company stock valued at $250,524,804. Company insiders own 9.23% of the company's stock.

About Palantir Technologies

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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