Smith Group Asset Management LLC Sells 2,200 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Smith Group Asset Management LLC reduced its holdings in Palantir Technologies by 45.2%, selling 2,200 shares during the second quarter and now holds 2,670 shares valued at $364,000.
• Palantir Technologies reported a 48% increase in quarterly revenue compared to the previous year, achieving $1 billion for the quarter with an EPS of $0.16, surpassing estimates.
• Insider sell transactions amounted to 1,557,750 shares worth approximately $239.7 million over the last 90 days, indicating notable trading activity among executives.

Smith Group Asset Management LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 45.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,670 shares of the company's stock after selling 2,200 shares during the period. Smith Group Asset Management LLC's holdings in Palantir Technologies were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PLTR. Ignite Planners LLC raised its position in shares of Palantir Technologies by 0.4% in the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock valued at $2,094,000 after purchasing an additional 66 shares during the last quarter. Christensen King & Associates Investment Services Inc. raised its position in shares of Palantir Technologies by 1.3% in the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after purchasing an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. raised its position in shares of Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after purchasing an additional 73 shares during the last quarter. Boomfish Wealth Group LLC raised its position in shares of Palantir Technologies by 2.7% in the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock valued at $379,000 after purchasing an additional 73 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Palantir Technologies by 3.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock valued at $329,000 after purchasing an additional 80 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 2.8%

Shares of PLTR opened at $180.48 on Friday. Palantir Technologies Inc. has a 52-week low of $40.90 and a 52-week high of $190.00. The firm's fifty day moving average is $171.20 and its two-hundred day moving average is $145.60. The stock has a market cap of $428.16 billion, a PE ratio of 601.62, a price-to-earnings-growth ratio of 9.51 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company's quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 222,878 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the sale, the insider owned 307,470 shares in the company, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,557,750 shares of company stock worth $239,713,896 over the last 90 days. 9.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a research report on Wednesday, October 8th. Citigroup reaffirmed a "neutral" rating and issued a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Loop Capital increased their price objective 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. Piper Sandler increased their price objective on shares of Palantir Technologies from $182.00 to $201.00 and gave the company an "overweight" rating in a research report on Tuesday, October 14th. Finally, Royal Bank Of Canada raised their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $141.28.

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.

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