Global Wealth Management Investment Advisory Inc. Sells 1,662 Shares of Palantir Technologies Inc. $PLTR

Global Wealth Management Investment Advisory Inc. lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 44.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,054 shares of the company’s stock after selling 1,662 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Palantir Technologies were worth $280,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Accuvest Global Advisors lifted its position in shares of Palantir Technologies by 0.7% in the 2nd quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock worth $1,232,000 after acquiring an additional 63 shares during the period. Ignite Planners LLC raised its stake in shares of Palantir Technologies by 0.4% in the second quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock valued at $2,094,000 after purchasing an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. raised its stake in shares of Palantir Technologies by 1.3% in the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock valued at $747,000 after purchasing an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its position in Palantir Technologies by 1.0% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock worth $1,007,000 after purchasing an additional 73 shares during the period. Finally, Boomfish Wealth Group LLC lifted its position in Palantir Technologies by 2.7% in the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock worth $379,000 after purchasing an additional 73 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Piper Sandler lifted their target price on shares of Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Robert W. Baird raised their price target on shares of Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group lifted their price objective on Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $173.45.

Palantir Technologies Stock Up 1.6%

Shares of PLTR stock opened at $177.93 on Monday. The company has a market capitalization of $422.11 billion, a P/E ratio of 423.65, a P/E/G ratio of 6.90 and a beta of 2.63. Palantir Technologies Inc. has a 12-month low of $55.30 and a 12-month high of $207.52. The firm has a 50-day moving average price of $177.73 and a 200 day moving average price of $154.47.

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

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total transaction of $149,112.00. Following the sale, the director owned 62,087 shares in the company, valued at approximately $11,572,395.93. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Buckley sold 2,803 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares of the company’s stock, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,527,750 shares of company stock worth $234,463,896 over the last 90 days. Company insiders own 12.93% of the company’s stock.

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.