Advisors Capital Management LLC Makes New Investment in Palantir Technologies Inc. $PLTR

Advisors Capital Management LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,295 shares of the company's stock, valued at approximately $278,000.

A number of other large investors also recently modified their holdings of PLTR. Nuveen LLC purchased a new position in shares of Palantir Technologies in the 1st quarter worth about $520,232,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Palantir Technologies by 55.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Amundi raised its holdings in shares of Palantir Technologies by 56.1% in the 1st quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after purchasing an additional 3,815,386 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLTR. Royal Bank Of Canada boosted their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Bank of America boosted their price target on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 price objective on Palantir Technologies in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Trading Up 4.3%

Shares of NASDAQ PLTR opened at $171.43 on Friday. Palantir Technologies Inc. has a twelve month low of $34.89 and a twelve month high of $190.00. The company has a market capitalization of $406.69 billion, a price-to-earnings ratio of 571.45, a price-to-earnings-growth ratio of 9.26 and a beta of 2.59. The business has a 50 day simple moving average of $160.07 and a 200-day simple moving average of $127.13.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly 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. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the previous year, the business earned $0.09 EPS. The business's quarterly revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 160,164 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $24,945,543.00. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $92,204. This represents a 99.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the transaction, the insider owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,604,634 shares of company stock worth $245,441,454. Corporate insiders own 9.23% of the company's stock.

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.

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