Palantir Technologies Inc. $PLTR Stake Lessened by Total Wealth Planning & Management Inc.

Key Points

• Total Wealth Planning & Management Inc. reduced its stake in Palantir Technologies by 57.0%, owning 1,624 shares after selling 2,151 shares during the second quarter, valued at $221,000.
• Analysts have increased their price targets for Palantir Technologies, with Deutsche Bank raising its target from $80 to $160, Bank of America from $180 to $215, and Goldman Sachs from $90 to $141.
• Insider trading activity saw Shyam Sankar sell 30,000 shares valued at approximately $4.79 million, contributing to a total of over $244 million in shares sold by insiders in the last quarter.

Total Wealth Planning & Management Inc. lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 57.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,624 shares of the company's stock after selling 2,151 shares during the period. Total Wealth Planning & Management Inc.'s holdings in Palantir Technologies were worth $221,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Palantir Technologies in the second quarter valued at $309,000. Pinion Investment Advisors LLC increased its stake in shares of Palantir Technologies by 5.1% in the second quarter. Pinion Investment Advisors LLC now owns 3,473 shares of the company's stock worth $473,000 after acquiring an additional 168 shares during the last quarter. WMG Financial Advisors LLC increased its stake in shares of Palantir Technologies by 15.3% in the second quarter. WMG Financial Advisors LLC now owns 3,794 shares of the company's stock worth $517,000 after acquiring an additional 503 shares during the last quarter. Stiles Financial Services Inc increased its stake in shares of Palantir Technologies by 17.2% in the second quarter. Stiles Financial Services Inc now owns 3,141 shares of the company's stock worth $428,000 after acquiring an additional 461 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of Palantir Technologies in the second quarter worth $234,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLTR. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price target for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a research note on Wednesday. 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 note on Tuesday, September 23rd. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $140.22.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $185.47 on Friday. The firm has a 50-day simple moving average of $170.89 and a 200 day simple moving average of $139.18. Palantir Technologies Inc. has a twelve month low of $40.36 and a twelve month high of $190.00. The stock has a market cap of $440.00 billion, a PE ratio of 618.25, a PEG ratio of 9.95 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results 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 net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm's 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. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

About Palantir Technologies

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.