Sterneck Capital Management LLC Reduces Stock Position in Palantir Technologies Inc. $PLTR

Sterneck Capital Management LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 14.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,712 shares of the company’s stock after selling 1,284 shares during the period. Sterneck Capital Management LLC’s holdings in Palantir Technologies were worth $1,051,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PLTR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Palantir Technologies by 10.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock worth $984,786,000 after buying an additional 1,135,841 shares during the period. Golden State Equity Partners boosted its holdings in shares of Palantir Technologies by 10.1% in the 2nd quarter. Golden State Equity Partners now owns 18,361 shares of the company’s stock valued at $2,503,000 after acquiring an additional 1,677 shares during the last quarter. Hummer Financial Advisory Services Inc acquired a new stake in shares of Palantir Technologies in the second quarter worth $225,000. Bank of New Hampshire increased its stake in shares of Palantir Technologies by 11.4% in the second quarter. Bank of New Hampshire now owns 19,842 shares of the company’s stock worth $2,705,000 after acquiring an additional 2,023 shares during the period. Finally, Fox Hill Wealth Management raised its holdings in shares of Palantir Technologies by 5.9% during the second quarter. Fox Hill Wealth Management now owns 41,470 shares of the company’s stock worth $5,653,000 after purchasing an additional 2,325 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 0.9%

Shares of Palantir Technologies stock opened at $177.57 on Friday. The firm has a market cap of $421.26 billion, a PE ratio of 591.92, a P/E/G ratio of 9.91 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $36.05 and a twelve month high of $190.00. The business has a 50-day moving average price of $166.16 and a 200 day moving average price of $133.63.

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

Insider Transactions at Palantir Technologies

In other news, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the sale, the insider owned 50,961 shares in the company, valued at $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,634,634 shares of company stock worth $250,524,804 in the last ninety days. Company insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised 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 report on Tuesday, August 5th. The Goldman Sachs Group upped their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Mizuho set a $165.00 target price on Palantir Technologies in a report on Monday, September 15th. Bank of America lifted their price target on Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, UBS Group reissued a “neutral” rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $140.22.

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.