Alan B Lancz & Associates Inc. Purchases Shares of 2,350 Palantir Technologies Inc. $PLTR

Key Points

• Alan B Lancz & Associates Inc. purchased 2,350 shares of Palantir Technologies Inc., valued at approximately $320,000, during the second quarter.
• Palantir Technologies reported a quarterly revenue of $1 billion, significantly exceeding analysts' expectations of $939.29 million, with an earnings per share of $0.16.
• Bank of America raised its price objective for Palantir shares from $180.00 to $215.00 and issued a "buy" rating in September.

Alan B Lancz & Associates Inc. purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,350 shares of the company's stock, valued at approximately $320,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Northern Trust Corp boosted its holdings in Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after purchasing an additional 64,973 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Palantir Technologies in the second quarter valued at $2,543,888,000. Invesco Ltd. raised its position in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after acquiring an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after acquiring an additional 571,544 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 0.0%

PLTR opened at $178.15 on Monday. Palantir Technologies Inc. has a twelve month low of $40.90 and a twelve month high of $190.00. The company has a 50-day moving average price of $171.52 and a 200 day moving average price of $143.67. The company has a market cap of $422.63 billion, a PE ratio of 593.85, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The company 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 quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLTR. Bank of America upped their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Mizuho set a $165.00 price objective on shares of Palantir Technologies in a research report on Monday, September 15th. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $141.28.

Insiders Place Their Bets

In other news, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares of the company's stock, valued at $8,000,877. This represents a 5.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction that occurred on 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 directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,557,750 shares of company stock worth $239,713,896. 12.93% of the stock is currently owned by company insiders.

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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