8,189 Shares in Palantir Technologies Inc. $PLTR Purchased by Naviter Wealth LLC

Key Points

• Naviter Wealth LLC purchased 8,189 shares of Palantir Technologies valued at approximately $1,116,000 during the second quarter, reflecting growing institutional interest in the company.
• Insider selling was notable, with insider David A. Glazer selling 81,000 shares for over $12.5 million, resulting in a 15.82% reduction in his position.
• Palantir's shares recently opened at $179.74 and have seen a 52-week high of $190.00, with the company reporting a quarterly revenue increase of 48% year-over-year.

Naviter Wealth LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,189 shares of the company's stock, valued at approximately $1,116,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Truist Financial Corp grew its holdings in shares of Palantir Technologies by 4.2% during the second quarter. Truist Financial Corp now owns 537,000 shares of the company's stock valued at $73,204,000 after buying an additional 21,809 shares in the last quarter. Presilium Private Wealth LLC purchased a new position in shares of Palantir Technologies during the second quarter valued at $204,000. New Century Financial Group LLC purchased a new position in shares of Palantir Technologies during the second quarter valued at $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Palantir Technologies by 10.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock valued at $984,786,000 after buying an additional 1,135,841 shares in the last quarter. Finally, Synergy Asset Management LLC grew its holdings in shares of Palantir Technologies by 37.1% during the second quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock valued at $1,312,000 after buying an additional 2,606 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $186.39, for a total value of $149,112.00. Following the transaction, the director directly owned 62,087 shares of the company's stock, valued at $11,572,395.93. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,557,750 shares of company stock valued at $239,713,896. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $179.74 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $40.36 and a fifty-two week high of $190.00. The business has a 50-day moving average of $171.78 and a two-hundred day moving average of $141.31. The stock has a market capitalization of $426.40 billion, a P/E ratio of 599.15, a P/E/G ratio of 9.61 and a beta of 2.60.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PLTR. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Citigroup reissued 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. Bank of America lifted their price objective on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Finally, Wall Street Zen cut Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $141.28.

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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