1,672 Shares in Palantir Technologies Inc. $PLTR Purchased by New Century Financial Group LLC

Key Points

• New Century Financial Group LLC purchased 1,672 shares of Palantir Technologies, valued at approximately $228,000, in the second quarter.
• Palantir Technologies reported a 48.0% revenue increase year-over-year, generating $1 billion in the latest quarter and exceeding analysts' expectations.
• Recent insider sales included Shyam Sankar selling 375,000 shares for $56.7 million, decreasing his ownership by 34.79%.

New Century Financial Group LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,672 shares of the company's stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mechanics Financial Corp bought a new position in shares of Palantir Technologies during the first quarter worth approximately $25,000. Signature Resources Capital Management LLC bought a new stake in shares of Palantir Technologies in the second quarter valued at approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in Palantir Technologies during the first quarter worth approximately $27,000. 1248 Management LLC bought a new position in Palantir Technologies during the 1st quarter worth $27,000. Finally, Family Legacy Financial Solutions LLC bought a new position in Palantir Technologies during the 2nd quarter worth $31,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 1.1%

Shares of PLTR opened at $187.05 on Friday. The firm's fifty day simple moving average is $168.62 and its two-hundred day simple moving average is $136.02. Palantir Technologies Inc. has a 12 month low of $37.37 and a 12 month high of $190.00. The stock has a market capitalization of $443.75 billion, a P/E ratio of 623.52, a price-to-earnings-growth ratio of 10.32 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the previous year, the company earned $0.09 EPS. Palantir Technologies'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. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 375,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at approximately $106,261,243.20. This represents a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock worth $244,676,722 in the last 90 days. Company insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler set a $182.00 price target on Palantir Technologies in a research note on Tuesday, August 5th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their price objective for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada lifted their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Four 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $140.22.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.