Barnes Wealth Management Group Inc Sells 975 Shares of Palantir Technologies Inc. $PLTR

Barnes Wealth Management Group Inc lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 24.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,047 shares of the company’s stock after selling 975 shares during the period. Barnes Wealth Management Group Inc’s holdings in Palantir Technologies were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the 1st quarter valued at about $25,000. Richardson Capital Management LLC bought a new position in Palantir Technologies during the 1st quarter valued at approximately $33,000. Cornerstone Planning Group LLC raised its position in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock valued at $33,000 after purchasing an additional 185 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company’s stock valued at $34,000 after purchasing an additional 125 shares during the last quarter. Finally, Capital Analysts LLC raised its position in Palantir Technologies by 97.1% during the 1st quarter. Capital Analysts LLC now owns 406 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PLTR shares. Piper Sandler set a $182.00 price target on Palantir Technologies in a research report on Tuesday, August 5th. Cantor Fitzgerald upped their price target on Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research report on Tuesday, August 5th. Wall Street Zen raised Palantir Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a “sell” rating to a “hold” rating and increased their target price for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $136.61.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 405,000 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares of the company’s stock, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total value of $4,510,558.85. Following the transaction, the insider directly owned 363,755 shares in the company, valued at approximately $49,219,689.05. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 529,684 shares of company stock valued at $71,900,350. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Up 0.1%

Palantir Technologies stock opened at $156.18 on Friday. The company has a market capitalization of $370.51 billion, a P/E ratio of 520.62, a PEG ratio of 8.79 and a beta of 2.60. The stock’s 50 day moving average is $153.18 and its 200 day moving average is $121.39. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.