Balboa Wealth Partners Sells 12,184 Shares of Palantir Technologies Inc. $PLTR

Balboa Wealth Partners lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 20.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,494 shares of the company’s stock after selling 12,184 shares during the quarter. Palantir Technologies makes up approximately 1.3% of Balboa Wealth Partners’ portfolio, making the stock its 12th biggest holding. Balboa Wealth Partners’ holdings in Palantir Technologies were worth $6,611,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PLTR. Signature Resources Capital Management LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at approximately $25,000. Frazier Financial Advisors LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at approximately $28,000. Family Legacy Financial Solutions LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at approximately $31,000. Tradewinds Capital Management LLC grew its stake in Palantir Technologies by 147.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 235 shares of the company’s stock valued at $32,000 after buying an additional 140 shares in the last quarter. Finally, Adirondack Trust Co. grew its stake in Palantir Technologies by 185.0% in the 2nd quarter. Adirondack Trust Co. now owns 285 shares of the company’s stock valued at $39,000 after buying an additional 185 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $178.15 on Monday. Palantir Technologies Inc. has a 52-week low of $40.90 and a 52-week high of $190.00. The firm has a fifty day moving average of $171.52 and a 200 day moving average of $143.67. The firm has a market capitalization of $422.63 billion, a PE ratio of 593.85, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PLTR shares. Bank of America lifted their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a “sell” rating to a “hold” rating and boosted their price target for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Loop Capital lifted their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Palantir Technologies in a research report on Wednesday, October 8th. Finally, Piper Sandler boosted their target price on Palantir Technologies from $182.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $141.28.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider owned 431,169 shares of the company’s stock, valued at $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,557,750 shares of company stock valued at $239,713,896 in the last three months. 12.93% of the stock is owned by corporate insiders.

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.