4,304 Shares in Palantir Technologies Inc. $PLTR Acquired by LeConte Wealth Management LLC

Key Points

• LeConte Wealth Management LLC purchased 4,304 shares of Palantir Technologies, valued at approximately $363,000, indicating growing institutional interest in the company.
• Insiders, including Alexander C. Karp, sold over 1.5 million shares of Palantir Technologies recently, raising questions about insider confidence, as their collective sales amounted to around $196 million.
• Palantir reported a 48% year-over-year revenue increase with earnings per share of $0.16 for the last quarter, surpassing analyst expectations and indicating strong financial performance.

LeConte Wealth Management LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,304 shares of the company's stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allegiance Financial Group Advisory Services LLC increased its stake in Palantir Technologies by 3.0% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares during the period. Sovran Advisors LLC increased its stake in Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the period. Lodestone Wealth Management LLC increased its stake in Palantir Technologies by 1.1% in the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the period. Continuum Advisory LLC increased its stake in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after purchasing an additional 98 shares during the period. Finally, Kathmere Capital Management LLC increased its stake in Palantir Technologies by 0.5% in the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after purchasing an additional 99 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total value of $4,510,558.85. Following the completion of the transaction, the insider owned 363,755 shares of the company's stock, valued at $49,219,689.05. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric H. Woersching sold 17,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the transaction, the director directly owned 12,562 shares of the company's stock, valued at $1,624,140.98. This trade represents a 57.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 529,684 shares of company stock worth $71,900,350. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Stock Down 1.2%

Shares of NASDAQ:PLTR traded down $1.9410 during trading on Wednesday, reaching $155.8090. The stock had a trading volume of 201,793,515 shares, compared to its average volume of 91,979,023. The business has a fifty day moving average price of $152.36 and a 200-day moving average price of $120.64. The stock has a market cap of $369.63 billion, a P/E ratio of 520.49, a PEG ratio of 9.81 and a beta of 2.60. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analyst estimates 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 business 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 analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLTR shares. Loop Capital lifted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, UBS Group reissued a "neutral" rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $136.61.

About Palantir Technologies

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.