Ascent Group LLC Buys New Stake in Palantir Technologies Inc. $PLTR

Key Points

• Ascent Group LLC acquired a new stake in Palantir Technologies Inc., purchasing 9,464 shares valued at approximately $799,000 in the first quarter.
• Palantir Technologies reported a 48% increase in quarterly revenue to $1 billion, with earnings per share of $0.16, exceeding estimates.
• Analysts have mixed ratings on Palantir, with a consensus target price of $136.61 and a range of ratings from "buy" to "hold" to "sell."

Ascent Group LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,464 shares of the company's stock, valued at approximately $799,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies during the 1st quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. Richardson Capital Management LLC purchased a new position in shares of Palantir Technologies during the 1st quarter worth $33,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Up 4.0%

PLTR stock opened at $162.36 on Wednesday. Palantir Technologies Inc. has a 52 week low of $33.62 and a 52 week high of $190.00. The company has a market cap of $385.17 billion, a price-to-earnings ratio of 541.22, a PEG ratio of 8.80 and a beta of 2.59. The business has a fifty day simple moving average of $158.03 and a 200-day simple moving average of $125.50.

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 (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the firm earned $0.09 EPS. The firm'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, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Piper Sandler set a $182.00 price target on Palantir Technologies in a research note on Tuesday, August 5th. Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. DA Davidson set a $170.00 price objective on Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald upped 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 assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $136.61.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 81,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 1,604,634 shares of company stock worth $245,441,454 in the last quarter. 12.93% of the stock is owned by corporate insiders.

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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