GRIMES & Co WEALTH MANAGEMENT LLC Decreases Holdings in Palantir Technologies Inc. $PLTR

GRIMES & Co WEALTH MANAGEMENT LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 49.1% in the 2nd quarter, Holdings Channel reports. The firm owned 4,319 shares of the company’s stock after selling 4,167 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Palantir Technologies were worth $504,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pachira Investments Inc. lifted its stake in shares of Palantir Technologies by 20.7% during the second quarter. Pachira Investments Inc. now owns 9,284 shares of the company’s stock worth $1,083,000 after purchasing an additional 1,594 shares in the last quarter. Formidable Asset Management LLC grew its stake in shares of Palantir Technologies by 23.2% in the second quarter. Formidable Asset Management LLC now owns 13,368 shares of the company’s stock valued at $1,560,000 after buying an additional 2,517 shares in the last quarter. LifeSteps Financial Inc. grew its stake in shares of Palantir Technologies by 6.9% in the second quarter. LifeSteps Financial Inc. now owns 1,584 shares of the company’s stock valued at $185,000 after buying an additional 102 shares in the last quarter. InTrack Investment Management Inc raised its holdings in shares of Palantir Technologies by 0.9% during the 2nd quarter. InTrack Investment Management Inc now owns 27,216 shares of the company’s stock valued at $3,175,000 after buying an additional 251 shares during the period. Finally, Core Wealth Partners LLC raised its holdings in shares of Palantir Technologies by 10.5% during the 2nd quarter. Core Wealth Partners LLC now owns 8,467 shares of the company’s stock valued at $988,000 after buying an additional 802 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Jeffrey Buckley sold 1,481 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the sale, the insider owned 60,226 shares in the company, valued at approximately $7,757,108.80. This represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Elaina Friedman Stat sold 3,032 shares of Palantir Technologies stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $165.00, for a total value of $500,280.00. Following the completion of the transaction, the director owned 54,107 shares of the company’s stock, valued at $8,927,655. This trade represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,150,302 shares of company stock worth $156,197,565. Company insiders own 9.53% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $174.04 on Monday. The firm has a 50 day simple moving average of $134.60 and a 200-day simple moving average of $139.96. The company has a market capitalization of $418.23 billion, a P/E ratio of 148.75, a PEG ratio of 2.48 and a beta of 1.59. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the company posted $0.16 earnings per share. The firm’s quarterly revenue was up 92.8% on a year-over-year basis. On average, research analysts predict that Palantir Technologies Inc. will post 1.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $205.00 to $151.00 in a report on Friday, May 1st. Northland Securities set a $200.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 4th. Mizuho upped their target price on shares of Palantir Technologies from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Wolfe Research assumed coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They set a “buy” rating for the company. Finally, UBS Group set a $215.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $192.19.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.