49 Wealth Management LLC Sells 343 Shares of Palantir Technologies Inc. $PLTR

49 Wealth Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,778 shares of the company’s stock after selling 343 shares during the period. 49 Wealth Management LLC’s holdings in Palantir Technologies were worth $515,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PLTR. Northern Trust Corp boosted its position in shares of Palantir Technologies by 0.3% during the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after purchasing an additional 64,973 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at $2,543,888,000. Invesco Ltd. boosted its holdings in shares of Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after buying an additional 2,998,716 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Palantir Technologies by 38.5% in the 1st 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. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company’s stock worth $1,149,055,000 after acquiring an additional 571,544 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 222,878 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. The trade was a 3.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the transaction, the insider owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,527,750 shares of company stock valued at $234,463,896 in the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $177.93 on Monday. The company has a market cap of $422.11 billion, a price-to-earnings ratio of 423.65, a P/E/G ratio of 6.90 and a beta of 2.63. The business’s 50-day moving average is $177.73 and its two-hundred day moving average is $154.47. Palantir Technologies Inc. has a fifty-two week low of $55.30 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Palantir Technologies in a research report on Wednesday. UBS Group increased their target price on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Finally, Bank of America increased their price target on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $173.45.

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.