Three Bridge Wealth Advisors LLC Lowers Stake in Palantir Technologies Inc. $PLTR

Key Points

• Three Bridge Wealth Advisors LLC reduced its stake in Palantir Technologies by 43.3% in Q2, owning a total of 13,319 shares worth about $1.8 million.
• Palantir Technologies has received mixed analyst ratings, with five analysts rating it as a Buy, while the consensus rating is a Hold with an average price target of $140.22.
• Insider trading saw significant share sales, with voracious transactions from insiders Stephen Andrew Cohen and Alexander C. Karp, reducing their holdings substantially.

Three Bridge Wealth Advisors LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 43.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,319 shares of the company's stock after selling 10,162 shares during the period. Three Bridge Wealth Advisors LLC's holdings in Palantir Technologies were worth $1,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signature Resources Capital Management LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth $25,000. Family Legacy Financial Solutions LLC bought a new position in shares of Palantir Technologies in the second quarter worth about $31,000. Adirondack Trust Co. boosted its stake in shares of Palantir Technologies by 185.0% in the second quarter. Adirondack Trust Co. now owns 285 shares of the company's stock worth $39,000 after acquiring an additional 185 shares during the period. Mechanics Financial Corp bought a new position in shares of Palantir Technologies in the first quarter worth about $25,000. Finally, Park Place Capital Corp boosted its stake in shares of Palantir Technologies by 48.1% in the second quarter. Park Place Capital Corp now owns 308 shares of the company's stock worth $40,000 after acquiring an additional 100 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Palantir Technologies in a report on Saturday, September 27th. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Citigroup reaffirmed 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. Finally, Royal Bank Of Canada raised their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $140.22.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 191,720 shares of the business's stock in a transaction dated 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 $89,611.04. The trade was a 99.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,591,085 shares of company stock valued at $244,676,722. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $173.07 on Friday. Palantir Technologies Inc. has a 52-week low of $38.78 and a 52-week high of $190.00. The firm has a market capitalization of $410.58 billion, a P/E ratio of 576.92, a P/E/G ratio of 9.66 and a beta of 2.60. The stock has a 50 day moving average price of $168.90 and a 200 day moving average price of $136.98.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its 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. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the firm posted $0.09 earnings per share. 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, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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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