CCG Wealth Management LLC Cuts Position in Palantir Technologies Inc. $PLTR

CCG Wealth Management LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,400 shares of the company’s stock after selling 227 shares during the quarter. CCG Wealth Management LLC’s holdings in Palantir Technologies were worth $463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truist Financial Corp increased its stake in Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after buying an additional 21,809 shares in the last quarter. New Century Financial Group LLC purchased a new stake in Palantir Technologies during the 2nd quarter worth approximately $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Palantir Technologies by 10.8% during 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 in the last quarter. Synergy Asset Management LLC increased its stake in Palantir Technologies by 37.1% during the 2nd quarter. Synergy Asset Management LLC now owns 9,623 shares of the company’s stock worth $1,312,000 after buying an additional 2,606 shares in the last quarter. Finally, Golden State Equity Partners increased its stake in Palantir Technologies by 10.1% during the 2nd quarter. Golden State Equity Partners now owns 18,361 shares of the company’s stock worth $2,503,000 after buying an additional 1,677 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PLTR. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Mizuho set a $165.00 price objective on Palantir Technologies in a research note on Monday, September 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Palantir Technologies in a research note on Wednesday. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada upped their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research report 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $140.22.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 375,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares of the company’s stock, valued at $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,591,085 shares of company stock valued at $244,714,146 in the last ninety days. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Price Performance

PLTR stock opened at $175.44 on Friday. The firm has a market capitalization of $416.20 billion, a PE ratio of 584.82, a price-to-earnings-growth ratio of 9.51 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $40.36 and a 1 year high of $190.00. The business has a 50 day simple moving average of $171.32 and a 200-day simple moving average of $140.05.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data 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. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period 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, equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS 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.