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

Key Points

• Capstone Wealth Management cut its Palantir stake by 31.2% in the first quarter, selling 5,901 shares and leaving it with 13,018 shares worth about $1.9 million.
• Palantir continues to attract major institutional interest overall, with hedge funds and other institutions owning 45.65% of the company; several large investors recently increased their positions significantly.
• The company posted strong results and bullish signals, including Q1 EPS of $0.33 versus $0.28 expected, revenue of $1.63 billion, and new analyst support such as DA Davidson upgrading the stock to Buy.

Capstone Wealth Management Group LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,018 shares of the company's stock after selling 5,901 shares during the quarter. Palantir Technologies makes up approximately 0.8% of Capstone Wealth Management Group LLC's investment portfolio, making the stock its 28th largest position. Capstone Wealth Management Group LLC's holdings in Palantir Technologies were worth $1,904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $5,149,641,000. State Street Corp lifted its stake in shares of Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company's stock worth $18,471,648,000 after buying an additional 6,777,771 shares in the last quarter. Cardano Risk Management B.V. boosted its position in Palantir Technologies by 917.4% during the fourth quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company's stock worth $1,170,596,000 after acquiring an additional 5,938,343 shares during the last quarter. Corient Private Wealth LLC boosted its position in Palantir Technologies by 1,449.7% during the fourth quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company's stock worth $937,205,000 after acquiring an additional 4,932,364 shares during the last quarter. Finally, Amundi grew its stake in Palantir Technologies by 38.7% during the 3rd quarter. Amundi now owns 15,679,158 shares of the company's stock valued at $2,814,879,000 after acquiring an additional 4,373,201 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir announced an expansion agreement with GNP Seguros, giving it its first publicly announced commercial customer in Latin America and underscoring international growth potential. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
• Positive Sentiment: DA Davidson upgraded Palantir to Buy, adding analyst credibility to the recent rebound and supporting the view that the stock’s AI platform is gaining value with enterprises. DA Davidson Upgrades Palantir (PLTR) To Buy
• Positive Sentiment: Coverage tied Palantir’s recent move to its expanded Nvidia partnership and stronger sovereign AI positioning, which investors see as a major long-term growth channel in government and critical infrastructure. Palantir's AI Position Wins New Support From Analysts
• Positive Sentiment: Market commentary also pointed to Palantir’s defense and AI momentum, including new international contract traction and expanding adoption of its software stack, which can fuel expectations for continued revenue growth. Why Palantir Stock Ticked Higher on Tuesday

Palantir Technologies Trading Up 1.4%

PLTR opened at $134.37 on Wednesday. The stock's 50-day moving average price is $133.27 and its 200 day moving average price is $147.37. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52. The firm has a market cap of $322.13 billion, a price-to-earnings ratio of 150.98, a PEG ratio of 2.12 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 35,000 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $130.00, for a total transaction of $4,550,000.00. Following the sale, the insider directly owned 642,786 shares in the company, valued at $83,562,180. This represents a 5.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 397,744 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $875,044,378.32. This represents a 5.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,112,270 shares of company stock worth $150,247,785 over the last 90 days. Company insiders own 9.53% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PLTR. President Capital raised shares of Palantir Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock from $25.50 to $133.00 in a research note on Monday, June 29th. Phillip Securities upped their price target on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Argus upgraded Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a research report on Wednesday, May 6th. Mizuho lowered their price objective on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 14th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $138.00 target price on shares of Palantir Technologies in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.85.

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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