Palantir Technologies Inc. $PLTR Stake Lowered by Belmont Capital LLC

Key Points

• Belmont Capital LLC reduced its stake in Palantir Technologies by 13.7% during the first quarter, now holding 140,750 shares valued at approximately $11.88 million.
• Multiple institutional investors have adjusted their stakes, with AQR Capital Management LLC increasing its ownership by 36.8% to over 2.2 million shares worth $180.92 million.
• Share prices faced mixed analysis, with Wall Street Zen downgrading Palantir from a "buy" to a "hold" rating, while other analysts set price targets ranging from $165.00 to $200.00.

Belmont Capital LLC cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,750 shares of the company's stock after selling 22,390 shares during the period. Palantir Technologies makes up about 2.1% of Belmont Capital LLC's portfolio, making the stock its 10th biggest holding. Belmont Capital LLC's holdings in Palantir Technologies were worth $11,879,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLTR. AQR Capital Management LLC increased its stake in Palantir Technologies by 36.8% in the 1st quarter. AQR Capital Management LLC now owns 2,238,508 shares of the company's stock worth $180,916,000 after acquiring an additional 601,680 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Palantir Technologies by 50.6% during the 1st quarter. Advisors Asset Management Inc. now owns 125,056 shares of the company's stock valued at $10,555,000 after acquiring an additional 42,042 shares during the last quarter. Amundi grew its holdings in shares of Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after purchasing an additional 3,815,386 shares in the last quarter. Aprio Wealth Management LLC increased its position in Palantir Technologies by 14.6% in the first quarter. Aprio Wealth Management LLC now owns 4,916 shares of the company's stock worth $415,000 after purchasing an additional 625 shares during the last quarter. Finally, JAT Capital Mgmt LP bought a new stake in Palantir Technologies in the first quarter worth $16,553,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of several research reports. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and issued a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $136.61.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 191,720 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider owned 592 shares of the company's stock, valued at $89,611.04. This represents a 99.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,906,783 shares of company stock worth $282,471,442 in the last 90 days. 12.93% of the stock is owned by insiders.

Palantir Technologies Trading Up 0.2%

PLTR stock opened at $157.09 on Wednesday. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00. The company has a 50-day moving average price of $156.07 and a 200 day moving average price of $123.98. The stock has a market cap of $372.67 billion, a PE ratio of 523.65, a P/E/G ratio of 8.83 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm's revenue for the quarter was up 48.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.

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