Schrum Private Wealth Management LLC Lowers Stock Position in Palantir Technologies Inc. $PLTR

Schrum Private Wealth Management LLC decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,922 shares of the company’s stock after selling 129 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Palantir Technologies were worth $944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Northern Trust Corp boosted its stake in shares of Palantir Technologies by 0.3% in 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 during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Palantir Technologies in the second quarter valued at approximately $2,543,888,000. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Palantir Technologies by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company’s stock valued at $1,149,055,000 after purchasing an additional 571,544 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a “sell” rating to a “hold” rating and raised their target price for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Bank of America raised their target price on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Mizuho set a $165.00 target price on shares of Palantir Technologies in a report on Monday, September 15th. Finally, Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $140.22.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 375,000 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider directly owned 702,786 shares of the company’s stock, valued at $106,261,243.20. The trade was a 34.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $89,611.04. The trade was a 99.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,591,085 shares of company stock worth $244,714,146. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Up 0.8%

PLTR stock opened at $183.56 on Thursday. Palantir Technologies Inc. has a twelve month low of $40.36 and a twelve month high of $190.00. The company’s 50 day moving average is $170.35 and its two-hundred day moving average is $138.57. The stock has a market cap of $435.47 billion, a P/E ratio of 611.89, a PEG ratio of 9.87 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.