Abacus Wealth Partners LLC Makes New Investment in Palantir Technologies Inc. $PLTR

Key Points

• Abacus Wealth Partners LLC invested $265,000 in Palantir Technologies Inc., acquiring 1,945 shares, during the 2nd quarter as reported in their Form 13F filing with the SEC.
• Palantir Technologies reported a 48% increase in revenue year-over-year, with quarterly earnings surpassing estimates by $0.02, bringing EPS to $0.16.
• Several institutional investors, including Goldman Sachs and Invesco, have significantly increased their holdings in Palantir, indicating strong interest in the company's stock.

Abacus Wealth Partners LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,945 shares of the company's stock, valued at approximately $265,000.

Other hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $450,000. Bison Wealth LLC grew its position in Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after acquiring an additional 4,667 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Palantir Technologies by 132.4% during the fourth quarter. Two Sigma Investments LP now owns 55,083 shares of the company's stock worth $4,166,000 after purchasing an additional 31,383 shares during the last quarter. Vise Technologies Inc. boosted its holdings in Palantir Technologies by 41.8% in the fourth quarter. Vise Technologies Inc. now owns 28,584 shares of the company's stock valued at $2,162,000 after acquiring an additional 8,427 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $58,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 3.1%

Palantir Technologies stock traded up $5.42 on Friday, reaching $182.39. 108,970,930 shares of the stock were exchanged, compared to its average volume of 60,825,608. The stock has a market cap of $432.69 billion, a PE ratio of 607.99, a PEG ratio of 10.28 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $35.71 and a twelve month high of $190.00. The firm has a fifty day moving average price of $163.32 and a two-hundred day moving average price of $130.54.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results 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 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 firm's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PLTR shares. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald increased their price objective on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $138.28.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,803 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. The trade was a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the 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 transaction, the insider owned 431,169 shares of the company's stock, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,625,634 shares of company stock worth $248,926,404 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

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.