Palantir Technologies Inc. $PLTR Stock Holdings Cut by Private Wealth Management Group LLC

Key Points

• Private Wealth Management Group LLC has decreased its stake in Palantir Technologies by 6.3%, now holding 55,705 shares valued at approximately $7.6 million.
• Several institutional investors, including Northern Trust Corp and Goldman Sachs, have either increased their stakes in Palantir or established new positions recently.
• Palantir Technologies reported a 48% increase in revenue year-over-year for the quarter, surpassing analyst expectations with a revenue of $1 billion and an EPS of $0.16.

Private Wealth Management Group LLC reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,705 shares of the company's stock after selling 3,732 shares during the quarter. Palantir Technologies comprises 2.5% of Private Wealth Management Group LLC's portfolio, making the stock its 15th largest holding. Private Wealth Management Group LLC's holdings in Palantir Technologies were worth $7,594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after purchasing an additional 64,973 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Palantir Technologies during the 2nd quarter valued at $2,543,888,000. Invesco Ltd. boosted its stake in Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after purchasing an additional 571,544 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup reissued a "neutral" rating and set a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Loop Capital raised their price objective on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada raised their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald raised their price objective on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Finally, Wedbush set a $200.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Five research 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's stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average target price of $141.28.

Insiders Place Their Bets

In other news, insider Jeffrey Buckley sold 2,803 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares of the company's stock, valued at $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 81,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,750 shares of company stock valued at $239,713,896 over the last quarter. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Up 0.0%

Shares of Palantir Technologies stock opened at $178.15 on Friday. The stock has a market cap of $422.63 billion, a PE ratio of 593.85, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60. The business has a fifty day simple moving average of $171.52 and a 200-day simple moving average of $142.87. Palantir Technologies Inc. has a 12 month low of $40.90 and a 12 month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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%.Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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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