Bristlecone Advisors LLC Reduces Stake in Palantir Technologies Inc. $PLTR

Bristlecone Advisors LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 37.4% during the second quarter, Holdings Channel reports. The fund owned 62,002 shares of the company’s stock after selling 37,060 shares during the period. Bristlecone Advisors LLC’s holdings in Palantir Technologies were worth $8,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mechanics Financial Corp purchased a new position in Palantir Technologies in the first quarter valued at about $25,000. Signature Resources Capital Management LLC purchased a new position in Palantir Technologies in the second quarter valued at about $25,000. Wealth Preservation Advisors LLC purchased a new position in Palantir Technologies in the first quarter valued at about $27,000. 1248 Management LLC purchased a new position in Palantir Technologies in the first quarter valued at about $27,000. Finally, Briaud Financial Planning Inc purchased a new position in Palantir Technologies in the second quarter valued at about $27,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLTR shares. UBS Group reiterated a “neutral” rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Wall Street Zen cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Royal Bank Of Canada restated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a “sell” rating to a “hold” rating and upped their price target for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $142.00.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the sale, the insider owned 702,786 shares of the company’s stock, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 431,169 shares in the company, valued at $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,557,750 shares of company stock worth $239,713,896 in the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 0.2%

Palantir Technologies stock opened at $189.60 on Wednesday. The firm’s 50 day simple moving average is $172.29 and its 200 day simple moving average is $148.59. The firm has a market capitalization of $449.80 billion, a PE ratio of 632.02, a price-to-earnings-growth ratio of 10.25 and a beta of 2.60. Palantir Technologies Inc. has a 1-year low of $40.90 and a 1-year high of $192.83.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results 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. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies’s revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.