Wambolt & Associates LLC Cuts Stake in Palantir Technologies Inc. $PLTR

Wambolt & Associates LLC decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,730 shares of the company’s stock after selling 1,394 shares during the quarter. Wambolt & Associates LLC’s holdings in Palantir Technologies were worth $2,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kingstone Capital Partners Texas LLC purchased a new stake in Palantir Technologies during the second quarter valued at approximately $2,543,888,000. Vanguard Group Inc. raised its holdings in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after buying an additional 7,194,216 shares during the period. Nuveen LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at $520,232,000. Price T Rowe Associates Inc. MD lifted its position in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock worth $1,126,408,000 after buying an additional 4,748,513 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock worth $1,281,205,000 after buying an additional 4,221,392 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLTR has been the topic of several recent analyst reports. Daiwa Capital Markets increased their target price on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson raised their price objective on shares of Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Royal Bank Of Canada increased their price target on Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $172.28.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 359,325 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $58,925,706.75. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at $1,054,825,989.42. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 149,872 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $24,577,509.28. Following the sale, the insider directly owned 642,786 shares in the company, valued at approximately $105,410,476.14. This trade represents a 18.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,149,695 shares of company stock worth $186,821,453 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 0.8%

Shares of PLTR stock opened at $163.55 on Wednesday. The stock has a market capitalization of $389.81 billion, a price-to-earnings ratio of 389.41, a P/E/G ratio of 6.29 and a beta of 2.63. Palantir Technologies Inc. has a twelve month low of $63.40 and a twelve month high of $207.52. The stock has a fifty day simple moving average of $180.03 and a two-hundred day simple moving average of $159.16.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. Palantir Technologies’s revenue for the quarter was up 62.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies 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.