Palantir Technologies Inc. $PLTR Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S has significantly reduced its holdings in Palantir Technologies, selling 147,500 shares and cutting its position by 64.9% in the first quarter.
• An insider, Shyam Sankar, sold 405,000 shares of Palantir stock, representing a 36.56% decrease in his ownership of the company.
• Palantir's recent quarterly earnings report showed a revenue increase of 48.0% year-over-year, with earnings per share of $0.16, exceeding estimates and indicating strong financial performance.

BI Asset Management Fondsmaeglerselskab A S cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 64.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,722 shares of the company's stock after selling 147,500 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Palantir Technologies were worth $6,729,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PLTR. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies in the 1st quarter valued at about $25,000. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter valued at about $33,000. Cornerstone Planning Group LLC boosted its position in shares of 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 purchasing an additional 185 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares during the period. Finally, Godsey & Gibb Inc. boosted its position in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the transaction, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 529,684 shares of company stock valued at $71,900,350. Company insiders own 12.93% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler set a $182.00 price objective on Palantir Technologies in a research report on Tuesday, August 5th. Citigroup reaffirmed 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. UBS Group reaffirmed a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price objective on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, 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 research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Trading Down 9.4%

Shares of PLTR stock opened at $157.75 on Wednesday. The company has a market cap of $374.24 billion, a price-to-earnings ratio of 525.85, a price-to-earnings-growth ratio of 9.81 and a beta of 2.60. The stock has a 50 day simple moving average of $152.36 and a 200-day simple moving average of $120.64. Palantir Technologies Inc. has a 12-month low of $29.31 and a 12-month 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 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 during the quarter, compared to the consensus estimate of $939.29 million. During the same period last year, the business posted $0.09 EPS. Palantir Technologies's quarterly revenue 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. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.

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