Advanced Asset Management Advisors Inc Buys New Stake in Palantir Technologies Inc. $PLTR

Key Points

• Advanced Asset Management Advisors Inc has acquired a new stake in Palantir Technologies Inc, purchasing 2,226 shares valued at approximately $303,000 during the second quarter.
• Multiple institutional investors have either added to or reduced their stakes in Palantir, with significant purchases including Kingstone Capital Partners Texas LLC's acquisition valued at about $2.5 billion.
• Palantir Technologies reported a 48% increase in revenue year-over-year for the last quarter, achieving $1 billion in revenue and earnings per share of $0.16, which beat analysts' estimates.

Advanced Asset Management Advisors Inc bought a new stake 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 Securities and Exchange Commission (SEC). The fund bought 2,226 shares of the company's stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC acquired a new position in Palantir Technologies in the second quarter valued at about $2,543,888,000. Nuveen LLC acquired a new position in Palantir Technologies in the first quarter valued at about $520,232,000. Price T Rowe Associates Inc. MD boosted its position in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after buying an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after buying an additional 4,221,392 shares in the last quarter. Finally, Amundi boosted its position in Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after buying an additional 3,815,386 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the sale, the insider owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $186.39, for a total transaction of $149,112.00. Following the completion of the sale, the director directly owned 62,087 shares of the company's stock, valued at $11,572,395.93. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,591,085 shares of company stock valued at $244,714,146. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 0.8%

Shares of PLTR stock opened at $183.56 on Thursday. The firm has a market capitalization of $435.47 billion, a price-to-earnings ratio of 611.89, a PEG ratio of 9.87 and a beta of 2.60. The firm's 50 day moving average is $170.35 and its 200-day moving average is $138.57. Palantir Technologies Inc. has a 1 year low of $40.36 and a 1 year high of $190.00.

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, topping 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%. Palantir Technologies's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period 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. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup restated a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Mizuho set a $165.00 price target on shares of Palantir Technologies in a research report on Monday, September 15th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $140.22.

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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