Wealth Management Partners LLC Cuts Stake in Palantir Technologies Inc. $PLTR

Key Points

• Wealth Management Partners LLC reduced its stake in Palantir Technologies by 11.7%, selling 2,915 shares and now holding 21,982 shares valued at approximately $3.06 million.
• Palantir Technologies reported $1 billion in revenue for the recent quarter, exceeding analyst expectations and showcasing a 48.0% increase year-over-year.
• Several institutional investors, including UBS AM, increased their stakes in Palantir, indicating continued interest with 45.65% of the stock currently held by institutional investors.

Wealth Management Partners LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,982 shares of the company's stock after selling 2,915 shares during the quarter. Palantir Technologies makes up 1.1% of Wealth Management Partners LLC's investment portfolio, making the stock its 19th largest holding. Wealth Management Partners LLC's holdings in Palantir Technologies were worth $3,058,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies in the first quarter valued at $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies during the first quarter worth $27,000. Family Legacy Financial Solutions LLC acquired a new position in Palantir Technologies in the second quarter valued at about $31,000. Finally, Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth about $33,000. Institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLTR shares. Bank of America raised their price target on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Citigroup reissued a "neutral" rating and issued a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and upped their target price for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $138.28.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 21,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $165.95, for a total transaction of $3,484,950.00. Following the completion of the transaction, the director owned 59,794 shares of the company's stock, valued at approximately $9,922,814.30. This represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,625,634 shares of company stock valued at $248,926,404. 12.93% of the stock is owned by company insiders.

Palantir Technologies Price Performance

PLTR traded up $5.42 during trading hours on Friday, reaching $182.39. 108,970,930 shares of the stock traded hands, compared to its average volume of 60,825,608. The company has a market cap of $432.69 billion, a price-to-earnings ratio of 607.99, a PEG ratio of 10.28 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $35.71 and a fifty-two week high of $190.00. The firm's fifty day simple moving average is $163.32 and its two-hundred day simple moving average is $130.54.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's quarterly revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.