Tradition Wealth Management LLC Sells 3,049 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Tradition Wealth Management LLC has reduced its stake in Palantir Technologies by 5.7%, selling 3,049 shares and now holding 50,485 shares valued at approximately $4.26 million.
• Palantir's stock is currently down 9.4%, with a twelve-month trading range between $29.31 and $190.00, while the company recently reported quarterly earnings of $1 billion, exceeding analysts' expectations.
• Analyst price targets for Palantir vary, with Piper Sandler setting a target of $182.00 and Bank of America raising its target from $150.00 to $180.00, as the company has received mixed ratings from various brokerages.

Tradition Wealth Management LLC lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,485 shares of the company's stock after selling 3,049 shares during the period. Tradition Wealth Management LLC's holdings in Palantir Technologies were worth $4,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp increased its stake in shares of Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after buying an additional 64,973 shares during the period. Invesco Ltd. increased its stake in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after buying an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after buying an additional 4,221,392 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after buying an additional 571,544 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Palantir Technologies by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock valued at $1,099,861,000 after buying an additional 187,860 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Up 1.6%

NASDAQ:PLTR traded up $2.56 on Friday, hitting $158.74. The stock had a trading volume of 101,782,072 shares, compared to its average volume of 77,128,816. The business's fifty day moving average is $153.61 and its 200 day moving average is $121.77. The company has a market cap of $376.59 billion, a PE ratio of 529.15, a P/E/G ratio of 8.80 and a beta of 2.60. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (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 business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the prior year, the company earned $0.09 earnings per share. The company's quarterly 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 predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 9,211 shares of Palantir Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $1,434,613.25. Following the completion of the transaction, the insider directly owned 343,518 shares in the company, valued at approximately $53,502,928.50. The trade was a 2.61% 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 Jeffrey Buckley sold 1,076 shares of Palantir Technologies stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $167,587.00. Following the completion of the transaction, the insider owned 53,764 shares of the company's stock, valued at approximately $8,373,743. This trade represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,906,783 shares of company stock valued at $282,471,442. Company insiders own 9.23% of the company's stock.

Analyst Ratings Changes

PLTR has been the subject of several recent research reports. Citigroup reissued a "neutral" rating and issued a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 target price on Palantir Technologies in a research report on Tuesday, August 5th. Bank of America upped their target price on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their target price for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Finally, DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a research report 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average target price of $136.61.

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.