1858 Wealth Management LLC Acquires Shares of 9,776 Palantir Technologies Inc. $PLTR

Key Points

• 1858 Wealth Management LLC has acquired 9,776 shares of Palantir Technologies, valued at approximately $1.33 million, making it the 28th largest position in their investment portfolio.
• Institutional investors and hedge funds currently own 45.65% of Palantir's stock, with several firms making new acquisitions, including Mechanics Financial Corp and Signature Resources Capital Management LLC.
• Wall Street analysts have given a consensus rating of "Hold" for Palantir, with a target price averaging around $140.22, indicating mixed sentiment among analysts on its future performance.

1858 Wealth Management LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,776 shares of the company's stock, valued at approximately $1,333,000. Palantir Technologies comprises approximately 1.0% of 1858 Wealth Management LLC's investment portfolio, making the stock its 28th largest position.

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

Wall Street Analyst Weigh In

Several research firms recently commented on PLTR. Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada upped their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Finally, Citigroup reaffirmed a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $140.22.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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 owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the 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 completion of the transaction, the insider directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,591,085 shares of company stock valued at $244,714,146. 9.23% of the stock is owned by company insiders.

Palantir Technologies Trading Down 5.4%

PLTR stock opened at $175.44 on Friday. The stock has a market capitalization of $416.20 billion, a P/E ratio of 584.82, a price-to-earnings-growth ratio of 9.51 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $40.36 and a 12 month high of $190.00. The firm has a 50-day moving average price of $171.32 and a 200-day moving average price of $140.05.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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.

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