World Equity Group Inc. Sells 10,464 Shares of Palantir Technologies Inc. $PLTR

Key Points

• World Equity Group Inc. reduced its stake in Palantir Technologies by 20.9%, selling 10,464 shares, which now accounts for about 1.5% of its portfolio.
• Insider selling has occurred recently, with Jeffrey Buckley and David A. Glazer selling significant numbers of shares, indicating a total insider sale of 1,634,634 shares worth approximately $250 million.
• Palantir Technologies saw a quarterly revenue increase of 48% year-over-year, reporting $1 billion in revenue and an EPS of $0.16, exceeding analyst expectations.

World Equity Group Inc. cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,705 shares of the company's stock after selling 10,464 shares during the quarter. Palantir Technologies accounts for about 1.5% of World Equity Group Inc.'s portfolio, making the stock its 12th largest position. World Equity Group Inc.'s holdings in Palantir Technologies were worth $5,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norden Group LLC grew its holdings in shares of Palantir Technologies by 63.0% during the 2nd quarter. Norden Group LLC now owns 15,345 shares of the company's stock valued at $2,092,000 after purchasing an additional 5,933 shares during the last quarter. Accurate Wealth Management LLC boosted its position in Palantir Technologies by 13.8% during the 2nd quarter. Accurate Wealth Management LLC now owns 22,544 shares of the company's stock worth $3,213,000 after buying an additional 2,732 shares during the period. Axis Wealth Partners LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $314,000. Yarbrough Capital LLC boosted its position in Palantir Technologies by 23.2% during the 2nd quarter. Yarbrough Capital LLC now owns 72,143 shares of the company's stock worth $9,835,000 after buying an additional 13,581 shares during the period. Finally, Fifth Third Bancorp boosted its position in Palantir Technologies by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 128,098 shares of the company's stock worth $17,462,000 after buying an additional 48,002 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,803 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. The trade was a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,634,634 shares of company stock worth $250,524,804 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Up 1.8%

Shares of PLTR stock opened at $182.55 on Wednesday. The firm has a market capitalization of $433.07 billion, a PE ratio of 608.52, a price-to-earnings-growth ratio of 10.11 and a beta of 2.59. The firm has a fifty day simple moving average of $164.60 and a two-hundred day simple moving average of $131.56. Palantir Technologies Inc. has a 12 month low of $36.05 and a 12 month 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 EPS for the quarter, beating analysts' consensus estimates 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%. Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter 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, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PLTR shares. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and set a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Bank of America lifted their target price on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, UBS Group reiterated a "neutral" rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $140.22.

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.

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