Palantir Technologies Inc. $PLTR Shares Sold by IFP Advisors Inc

Key Points

• IFP Advisors Inc reduced its holdings in Palantir Technologies by 56.2%, selling over 55,000 shares during the second quarter, leaving them with 42,985 shares valued at approximately $5.86 million.
• Several institutional investors have significantly increased their positions in Palantir, with Price T Rowe Associates and Goldman Sachs owning over 13 million and 15 million shares, respectively.
• Palantir's recent earnings report showed 48% year-over-year revenue growth, reporting $1 billion for the quarter, and exceeding earnings per share estimates with a margin of 22.18%.

IFP Advisors Inc lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 56.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,985 shares of the company's stock after selling 55,203 shares during the period. IFP Advisors Inc's holdings in Palantir Technologies were worth $5,860,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PLTR. Kingstone Capital Partners Texas LLC acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $2,543,888,000. Nuveen LLC acquired a new position in Palantir Technologies during the first quarter worth approximately $520,232,000. Price T Rowe Associates Inc. MD increased its position in Palantir Technologies by 55.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Finally, Amundi increased its position in Palantir Technologies by 56.1% during the first quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after purchasing an additional 3,815,386 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of several research analyst reports. Bank of America upped their price target on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. Loop Capital upped their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and set a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $140.22.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. This trade represents a 4.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Buckley sold 2,803 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $157.00, for a total transaction of $440,071.00. Following the sale, the insider directly owned 50,961 shares of the company's stock, valued at approximately $8,000,877. The trade was a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,591,085 shares of company stock worth $244,714,146. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 1.0%

PLTR opened at $185.47 on Friday. Palantir Technologies Inc. has a 52-week low of $40.36 and a 52-week high of $190.00. The company has a 50 day moving average of $170.89 and a two-hundred day moving average of $139.18. The company has a market cap of $440.00 billion, a P/E ratio of 618.25, a P/E/G ratio of 9.95 and a beta of 2.60.

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 (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 the consensus estimate of $939.29 million. During the same period in the previous year, the firm earned $0.09 earnings per share. Palantir Technologies'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. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.

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