Pinnacle Wealth Management LLC Sells 29,509 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Pinnacle Wealth Management LLC reduced its stake in Palantir Technologies by 43.8%, holding 37,834 shares worth approximately $3.19 million, making it the fund's 5th largest position.
• Palantir Technologies reported earnings of $0.16 per share, exceeding analyst expectations, with a revenue of $1 billion, marking a 48% year-over-year increase.
• Several brokerages have adjusted their price targets for Palantir, with estimates ranging from $155.00 to $200.00, reflecting mixed sentiments among analysts regarding the stock's performance.

Pinnacle Wealth Management LLC lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 43.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,834 shares of the company's stock after selling 29,509 shares during the quarter. Palantir Technologies accounts for 3.6% of Pinnacle Wealth Management LLC's holdings, making the stock its 5th biggest position. Pinnacle Wealth Management LLC's holdings in Palantir Technologies were worth $3,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after acquiring an additional 6,479 shares during the period. Garrison Bradford & Associates Inc. acquired a new stake in shares of Palantir Technologies in the first quarter worth $45,000. Menard Financial Group LLC increased its stake in shares of Palantir Technologies by 8.2% in the first quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock worth $2,189,000 after acquiring an additional 1,964 shares during the period. TCW Group Inc. increased its stake in shares of Palantir Technologies by 14.5% in the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after acquiring an additional 4,068 shares during the period. Finally, Sagespring Wealth Partners LLC increased its stake in shares of Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after acquiring an additional 6,405 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLTR. Citigroup reiterated a "neutral" rating and issued a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Bank of America raised their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Loop Capital raised their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus price target of $136.61.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the transaction, the director owned 2,348 shares in the company, valued at $307,470.60. The trade was a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 529,684 shares of company stock worth $71,900,350 in the last ninety days. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Up 0.1%

Shares of NASDAQ PLTR traded up $0.17 during trading on Thursday, hitting $156.18. The company had a trading volume of 94,270,503 shares, compared to its average volume of 92,138,227. The stock has a fifty day simple moving average of $152.76 and a two-hundred day simple moving average of $120.89. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The firm has a market capitalization of $370.51 billion, a price-to-earnings ratio of 520.62, a price-to-earnings-growth ratio of 8.89 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the business earned $0.09 earnings per share. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, 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.