Spirepoint Private Client LLC Has $28.24 Million Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Spirepoint Private Client LLC reduced its stake in Palantir Technologies by 2.6% in Q2, now holding 207,182 shares valued at approximately $28.24 million.
• Palantir Technologies has received multiple analysts' upgrades, with price targets raised to between $145 and $170 and an average rating of "Hold".
• Insider Shyam Sankar sold 375,000 shares of Palantir stock, representing a 34.79% decrease in his ownership, with insiders collectively selling over 1.6 million shares in recent months.

Spirepoint Private Client LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,182 shares of the company's stock after selling 5,533 shares during the period. Palantir Technologies accounts for 3.2% of Spirepoint Private Client LLC's portfolio, making the stock its 4th largest position. Spirepoint Private Client LLC's holdings in Palantir Technologies were worth $28,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Christensen King & Associates Investment Services Inc. increased its position in Palantir Technologies by 1.3% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after buying an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its position in Palantir Technologies by 1.0% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after buying an additional 73 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in Palantir Technologies by 3.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock valued at $329,000 after buying an additional 80 shares in the last quarter. Oxinas Partners Wealth Management LLC increased its position in Palantir Technologies by 2.7% during the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company's stock valued at $410,000 after buying an additional 80 shares in the last quarter. Finally, Optima Capital LLC increased its position in Palantir Technologies by 0.6% during the 1st quarter. Optima Capital LLC now owns 12,626 shares of the company's stock valued at $1,066,000 after buying an additional 81 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Royal Bank Of Canada boosted their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Mizuho set a $165.00 price target on Palantir Technologies in a research note on Monday, September 15th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average price target of $140.22.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 375,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the completion of the sale, the insider directly owned 592 shares of the company's stock, valued at approximately $89,611.04. This represents a 99.69% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,634,634 shares of company stock valued at $250,524,804. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Down 0.9%

Shares of PLTR opened at $177.57 on Friday. Palantir Technologies Inc. has a 52 week low of $36.05 and a 52 week high of $190.00. The company has a market capitalization of $421.26 billion, a price-to-earnings ratio of 591.92, a PEG ratio of 9.99 and a beta of 2.59. The stock's 50-day moving average price is $166.16 and its 200-day moving average price is $133.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $1 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 48.0% on a year-over-year basis. During the same quarter 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. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.