OLD Point Trust & Financial Services N A Sells 9,635 Shares of Palantir Technologies Inc. $PLTR

OLD Point Trust & Financial Services N A lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 82,984 shares of the company’s stock after selling 9,635 shares during the quarter. Palantir Technologies accounts for approximately 3.9% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 2nd largest position. OLD Point Trust & Financial Services N A’s holdings in Palantir Technologies were worth $11,312,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Truist Financial Corp grew its position in shares of Palantir Technologies by 4.2% in the second quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after purchasing an additional 21,809 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Palantir Technologies by 10.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock valued at $984,786,000 after purchasing an additional 1,135,841 shares during the last quarter. Golden State Equity Partners grew its position in shares of Palantir Technologies by 10.1% in the second quarter. Golden State Equity Partners now owns 18,361 shares of the company’s stock valued at $2,503,000 after purchasing an additional 1,677 shares during the last quarter. FMB Wealth Management acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $223,000. Finally, Hummer Financial Advisory Services Inc acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $225,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares in the company, valued at $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider owned 307,470 shares of the company’s stock, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,557,750 shares of company stock valued at $239,713,896. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research reports. UBS Group reaffirmed a “neutral” rating and issued a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an “equal weight” rating in a research note on Tuesday, August 5th. Wall Street Zen cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Loop Capital boosted their price target on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Five equities research 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.com, the company has a consensus rating of “Hold” and a consensus price target of $141.28.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $178.15 on Monday. The business has a fifty day moving average price of $171.52 and a two-hundred day moving average price of $143.67. Palantir Technologies Inc. has a fifty-two week low of $40.90 and a fifty-two week high of $190.00. The stock has a market capitalization of $422.63 billion, a PE ratio of 593.85, a PEG ratio of 9.66 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last released its 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. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. During the same period in the prior year, the company earned $0.09 earnings per share. The company’s quarterly revenue 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. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share 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.