Palantir Technologies Inc. $PLTR Shares Sold by OLD Point Trust & Financial Services N A

Key Points

• OLD Point Trust & Financial Services N A has reduced its stake in Palantir Technologies Inc. by 10.4%, now holding 82,984 shares valued at approximately $11.3 million, making it the firm's second largest holding.
• Several institutional investors, including Christensen King & Associates and McGlone Suttner Wealth Management, have recently increased their stakes in Palantir, indicating continued interest in the stock.
• Analysts have recently upgraded their price targets for Palantir, with UBS raising its target to $165 and Deutsche Bank upgrading from "sell" to "hold" with a target of $160, reflecting a positive sentiment about the company's performance.

OLD Point Trust & Financial Services N A reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 10.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 82,984 shares of the company's stock after selling 9,635 shares during the period. Palantir Technologies accounts for approximately 3.9% of OLD Point Trust & Financial Services N A's investment portfolio, making the stock its 2nd largest holding. OLD Point Trust & Financial Services N A's holdings in Palantir Technologies were worth $11,312,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Christensen King & Associates Investment Services Inc. grew its stake in shares of Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock worth $747,000 after purchasing an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. grew its stake in shares of Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock worth $1,007,000 after purchasing an additional 73 shares during the period. Farmers & Merchants Investments Inc. grew its stake in shares of Palantir Technologies by 3.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock worth $329,000 after purchasing an additional 80 shares during the period. Oxinas Partners Wealth Management LLC grew its stake in shares of Palantir Technologies by 2.7% during the second quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company's stock worth $410,000 after purchasing an additional 80 shares during the period. Finally, Optima Capital LLC grew its stake in shares of Palantir Technologies by 0.6% during the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after purchasing an additional 81 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of analyst reports. 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 note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and lifted their target price for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average target price of $141.28.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $178.15 on Monday. The stock's 50-day moving average is $171.52 and its 200-day moving average is $143.67. The firm has a market cap of $422.63 billion, a price-to-earnings ratio of 593.85, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60. Palantir Technologies Inc. has a one year low of $40.90 and a one year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter 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 analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,750 shares of company stock valued at $239,713,896 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

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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