Palantir Technologies Inc. $PLTR Shares Sold by Concorde Asset Management LLC

Key Points

• Concorde Asset Management LLC reduced its holdings in Palantir Technologies by 8.4%, now owning 18,750 shares, valued at approximately $1.725 million, making it the firm's 13th largest investment.
• Insiders sold a total of 1,909,586 shares of Palantir stock valued at around $282.9 million in recent months, with significant sales by insiders David A. Glazer and Stephen Andrew Cohen.
• Analysts have mixed sentiments on Palantir Technologies, with four analysts recommending a Buy, sixteen giving a Hold rating, and two suggesting a Sell, leading to an average rating of Hold and a consensus price target of $136.61.

Concorde Asset Management LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,750 shares of the company's stock after selling 1,713 shares during the quarter. Palantir Technologies accounts for approximately 0.9% of Concorde Asset Management LLC's investment portfolio, making the stock its 13th largest holding. Concorde Asset Management LLC's holdings in Palantir Technologies were worth $1,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Allegiance Financial Group Advisory Services LLC lifted its holdings in shares of Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after purchasing an additional 84 shares during the period. Delta Investment Management LLC lifted its holdings in shares of Palantir Technologies by 1.9% during the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock worth $398,000 after purchasing an additional 90 shares during the period. Sovran Advisors LLC lifted its holdings in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after purchasing an additional 94 shares during the period. Lodestone Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after purchasing an additional 97 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PLTR shares. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Cantor Fitzgerald boosted their price target on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Finally, Citigroup reissued a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $136.61.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 8,047 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $1,253,320.25. Following the completion of the sale, the insider directly owned 474,399 shares in the company, valued at $73,887,644.25. The trade was a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 160,164 shares of the business'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 $24,945,543.00. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at $92,204. This trade represents a 99.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,909,586 shares of company stock valued at $282,911,513. 9.23% of the stock is owned by insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $154.90 on Thursday. The stock has a market capitalization of $367.48 billion, a PE ratio of 516.35, a price-to-earnings-growth ratio of 8.83 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00. The business has a 50 day simple moving average of $156.31 and a 200-day simple moving average of $124.19.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business's revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS 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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