Prime Capital Investment Advisors LLC Sells 61,551 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Prime Capital Investment Advisors LLC decreased its holdings in Palantir Technologies by 18.4%, selling 61,551 shares and owning 273,639 shares valued at approximately $37.3 million at the end of the reporting period.
• Palantir Technologies reported quarterly earnings of $0.16 EPS, exceeding analysts' expectations of $0.14 EPS, and demonstrated a 48% revenue increase year-over-year with total revenue of $1 billion.
• As of now, 45.65% of Palantir's stock is held by institutional investors, indicating increased interest from larger financial entities.

Prime Capital Investment Advisors LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 18.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 273,639 shares of the company's stock after selling 61,551 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Palantir Technologies were worth $37,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Palantir Technologies by 0.3% during the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after buying an additional 64,973 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Palantir Technologies in the second quarter valued at approximately $2,543,888,000. Invesco Ltd. raised its position in shares of 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 acquiring an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Palantir Technologies by 38.5% in 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 during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Palantir Technologies by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after purchasing an additional 571,544 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $173.07 on Monday. The stock has a 50 day moving average price of $168.90 and a 200 day moving average price of $137.33. The stock has a market capitalization of $410.58 billion, a PE ratio of 576.92, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60. Palantir Technologies Inc. has a 52 week low of $38.78 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business's revenue 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. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of the business's stock in a transaction that occurred 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 directly owned 592 shares in the company, valued at approximately $89,611.04. This trade represents a 99.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,591,085 shares of company stock worth $244,676,722. Corporate insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PLTR shares. Mizuho set a $165.00 target price on Palantir Technologies in a report on Monday, September 15th. Royal Bank Of Canada increased their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 5th. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Five equities 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. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus target price of $140.22.

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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