Palantir Technologies Inc. $PLTR Shares Sold by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors Inc. reduced its stake in Palantir Technologies by 13.1%, selling 122,812 shares and holding 816,322 shares worth approximately $111.28 million as of the latest reporting period.
• Palantir Technologies saw a net margin of 22.18% and a significant 48% year-on-year revenue growth, reporting $1 billion in revenue for the quarter.
• Wall Street analysts have provided a consensus rating of "Hold" for Palantir Technologies, with price targets ranging from $155 to $200 across various brokerages.

Salem Investment Counselors Inc. cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 816,322 shares of the company's stock after selling 122,812 shares during the period. Palantir Technologies makes up about 3.5% of Salem Investment Counselors Inc.'s investment portfolio, making the stock its 6th largest holding. Salem Investment Counselors Inc.'s holdings in Palantir Technologies were worth $111,281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new stake in Palantir Technologies in the fourth quarter worth approximately $450,000. Bison Wealth LLC lifted its position in Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after purchasing an additional 4,667 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Palantir Technologies by 120.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 16,583 shares of the company's stock worth $1,254,000 after purchasing an additional 9,052 shares during the period. Pathstone Holdings LLC lifted its position in Palantir Technologies by 7.5% in the fourth quarter. Pathstone Holdings LLC now owns 116,853 shares of the company's stock worth $8,838,000 after purchasing an additional 8,146 shares during the period. Finally, Shell Asset Management Co. acquired a new stake in Palantir Technologies in the fourth quarter worth approximately $1,002,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 21,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $165.95, for a total value of $3,484,950.00. Following the completion of the sale, the director owned 59,794 shares in the company, valued at approximately $9,922,814.30. This trade represents a 25.99% 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 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 transaction of $4,786,500.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. The trade was a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,625,634 shares of company stock valued at $248,926,404 in the last three months. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded down $0.81 during mid-day trading on Tuesday, reaching $170.40. The company had a trading volume of 27,633,746 shares, compared to its average volume of 89,278,172. Palantir Technologies Inc. has a twelve month low of $35.71 and a twelve month high of $190.00. The stock has a market capitalization of $404.25 billion, a PE ratio of 568.43, a price-to-earnings-growth ratio of 9.66 and a beta of 2.59. The stock's 50 day moving average is $160.71 and its 200-day moving average is $128.03.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and upped their target price for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Bank of America upped their price target on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Finally, 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. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $138.28.

Palantir Technologies Company 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.