326,400 Shares in Palantir Technologies Inc. $PLTR Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems ET Al acquired a stake of 326,400 shares in Palantir Technologies Inc. valued at approximately $44.5 million during the second quarter.
• Insider trading activity included significant sales, with insider Ryan D. Taylor selling 36,048 shares for about $5.7 million, which decreased his shareholding by 10.49%.
• Multiple institutional investors have increased their stakes in Palantir, reflecting a total of 45.65% of the company's stock being owned by hedge funds and other institutional investors.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 326,400 shares of the company's stock, valued at approximately $44,495,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Northern Trust Corp boosted its holdings in Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after buying an additional 64,973 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Palantir Technologies during the second quarter valued at about $2,543,888,000. Invesco Ltd. lifted its position in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after acquiring an additional 2,998,716 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after purchasing an additional 571,544 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. The trade was a 10.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Glazer sold 81,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the sale, the insider owned 431,169 shares in the company, valued at $66,602,675.43. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,750 shares of company stock valued at $239,713,896 over the last three months. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 0.0%

NASDAQ:PLTR opened at $178.15 on Friday. The company has a market cap of $422.63 billion, a price-to-earnings ratio of 593.85, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $40.90 and a twelve month high of $190.00. The stock has a fifty day simple moving average of $171.52 and a 200-day simple moving average of $143.25.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating 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 net margin of 22.18% and a return on equity of 10.75%. The company's revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. Piper Sandler lifted their price target on shares of Palantir Technologies from $182.00 to $201.00 and gave the company an "overweight" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada increased 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. Five equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $141.28.

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.

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