23,573 Shares in Palantir Technologies Inc. $PLTR Purchased by Virtus Wealth Solutions LLC

Key Points

• Virtus Wealth Solutions LLC acquired 23,573 shares of Palantir Technologies, valued at approximately $3.2 million, making it the firm's 25th largest holding.
• Palantir Technologies reported a quarterly revenue of $1 billion, exceeding analysts' expectations of $939.29 million and showing a 48% year-over-year growth.
• Several investment analysts have set varied price targets for Palantir's stock, with recommendations ranging from Buy to Hold, leading to a consensus target price of $140.22.

Virtus Wealth Solutions LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,573 shares of the company's stock, valued at approximately $3,213,000. Palantir Technologies makes up 0.7% of Virtus Wealth Solutions LLC's investment portfolio, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ignite Planners LLC grew its stake in Palantir Technologies by 0.4% during the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock worth $2,094,000 after buying an additional 66 shares during the last quarter. Christensen King & Associates Investment Services Inc. grew its stake in Palantir Technologies by 1.3% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock worth $747,000 after buying an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its stake in Palantir Technologies by 1.0% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock worth $1,007,000 after buying an additional 73 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in Palantir Technologies by 3.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock worth $329,000 after buying an additional 80 shares during the last quarter. Finally, Oxinas Partners Wealth Management LLC grew its stake in Palantir Technologies by 2.7% during the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company's stock worth $410,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 1.5%

Shares of Palantir Technologies stock opened at $182.17 on Wednesday. The stock has a 50-day moving average price of $169.85 and a 200 day moving average price of $138.26. The company has a market cap of $432.17 billion, a P/E ratio of 607.25, a P/E/G ratio of 10.02 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $39.01 and a 1 year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business's revenue for the quarter was up 48.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PLTR shares. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Bank of America increased their price target on Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Cantor Fitzgerald increased their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Finally, Mizuho set a $165.00 target price on Palantir Technologies in a research note on Monday, September 15th. Five investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $140.22.

Insider Activity at Palantir Technologies

In other news, insider Jeffrey Buckley sold 2,803 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares of the company's stock, valued at $8,000,877. This trade represents a 5.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the sale, the insider directly owned 702,786 shares of the company's stock, valued at $112,129,506.30. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,591,085 shares of company stock worth $244,714,146. 12.93% of the stock is currently owned by corporate insiders.

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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