Warburton Capital Management LLC Sells 3,644 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Warburton Capital Management LLC reduced its stake in Palantir Technologies by 13.1%, holding 24,100 shares valued at approximately $2.03 million, making the stock its 5th largest holding.
• Recent changes in institutional investments show a mixed approach, with some firms increasing their stakes significantly—like CBIZ Investment Advisory Services boosting its position by 118.5%—while 45.65% of the stock is owned by institutional investors overall.
• Palantir Technologies reported strong earnings with $1 billion revenue for the quarter, exceeding expectations and showing a 48% year-over-year growth, alongside a beat on earnings per share estimates.

Warburton Capital Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,100 shares of the company's stock after selling 3,644 shares during the period. Palantir Technologies accounts for 1.5% of Warburton Capital Management LLC's portfolio, making the stock its 5th largest position. Warburton Capital Management LLC's holdings in Palantir Technologies were worth $2,034,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PLTR. Mechanics Financial Corp purchased a new position in Palantir Technologies in the first quarter worth about $25,000. Richardson Capital Management LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at $33,000. Cornerstone Planning Group LLC raised its holdings in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares during the period. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after acquiring an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. raised its holdings in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

NASDAQ PLTR traded up $2.66 on Thursday, hitting $182.20. 77,586,531 shares of the company's stock were exchanged, compared to its average volume of 60,547,432. The firm has a market cap of $429.98 billion, a price-to-earnings ratio of 607.35, a P/E/G ratio of 13.07 and a beta of 2.60. The firm's 50-day moving average price is $144.43 and its two-hundred day moving average price is $114.82. Palantir Technologies Inc. has a fifty-two week low of $26.69 and a fifty-two week high of $184.48.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data 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 firm 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 posted $0.09 earnings per share. Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Palantir Technologies from $158.00 to $177.00 and gave the stock a "neutral" rating in a research report on Tuesday. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. 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 report on Tuesday. Loop Capital lifted their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and increased their price objective for the company from $80.00 to $160.00 in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $136.61.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the sale, the insider owned 592 shares of the company's stock, valued at approximately $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,515,632 shares of company stock worth $196,472,623. Insiders own 9.23% of the company's stock.

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.