SVB Wealth LLC Sells 3,040 Shares of Palantir Technologies Inc. $PLTR

Key Points

• SVB Wealth LLC reduced its holdings in Palantir Technologies Inc. by 7.5% in Q1, selling 3,040 shares, leaving them with 37,304 shares valued at approximately $3,148,000.
• Significant insider selling occurred, with insider Stephen Andrew Cohen selling 191,720 shares for over $29 million, marking a 99.69% decrease in his position.
• Palantir reported earnings of $0.16 per share for the quarter, exceeding expectations, with a revenue increase of 48% year-over-year, totaling $1 billion.

SVB Wealth LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,304 shares of the company's stock after selling 3,040 shares during the period. SVB Wealth LLC's holdings in Palantir Technologies were worth $3,148,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent analyst reports. Citigroup reiterated a "neutral" rating and set a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Wedbush set a $200.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a research note on Tuesday, August 5th. Finally, Bank of America boosted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $136.61.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 222,878 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the completion of the transaction, the insider owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,906,783 shares of company stock worth $282,471,442 over the last three months. Company insiders own 12.93% of the company's stock.

Palantir Technologies Trading Up 1.6%

Shares of NASDAQ PLTR traded up $2.56 during midday trading on Friday, hitting $158.74. 101,782,072 shares of the company's stock were exchanged, compared to its average volume of 79,335,152. Palantir Technologies Inc. has a 12-month low of $29.31 and a 12-month high of $190.00. The company has a market cap of $376.59 billion, a price-to-earnings ratio of 529.15, a PEG ratio of 8.95 and a beta of 2.60. The business's fifty day moving average price is $153.61 and its two-hundred day moving average price is $121.98.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Palantir Technologies's revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

About Palantir Technologies

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.