Axis Wealth Partners LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,307 shares of the company's stock, valued at approximately $314,000.
Other hedge funds have also bought and sold shares of the company. Family Legacy Financial Solutions LLC bought a new stake in Palantir Technologies during the second quarter worth $31,000. Adirondack Trust Co. lifted its holdings in Palantir Technologies by 185.0% during the second quarter. Adirondack Trust Co. now owns 285 shares of the company's stock worth $39,000 after acquiring an additional 185 shares during the period. Mechanics Financial Corp bought a new stake in Palantir Technologies during the first quarter worth $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies during the first quarter worth $27,000. Finally, 1248 Management LLC bought a new stake in shares of Palantir Technologies in the first quarter valued at $27,000. 45.65% of the stock is currently owned by institutional investors.
Palantir Technologies Stock Up 1.8%
Palantir Technologies stock opened at $182.55 on Wednesday. Palantir Technologies Inc. has a 52 week low of $36.05 and a 52 week high of $190.00. The business has a 50-day simple moving average of $164.60 and a 200 day simple moving average of $131.56. The stock has a market cap of $433.07 billion, a price-to-earnings ratio of 608.52, a PEG ratio of 10.11 and a beta of 2.59.
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 the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same period in the previous year, the business earned $0.09 earnings per share. The firm's revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.
Insider Activity
In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of Palantir Technologies 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 sale, the insider owned 431,169 shares of the company's stock, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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. Over the last 90 days, insiders have sold 1,634,634 shares of company stock valued at $250,524,804. 12.93% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several brokerages have issued reports on PLTR. Cantor Fitzgerald boosted their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Citigroup restated a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Bank of America boosted their target price on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday. Loop Capital boosted their target price on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and boosted their target price for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $140.22.
Check Out Our Latest Research Report on Palantir Technologies
About Palantir Technologies
(
Free Report)
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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