Axxcess Wealth Management LLC Has $12.99 Million Stake in Palantir Technologies Inc. $PLTR

Key Points

• Axxcess Wealth Management LLC now holds a $12.99 million stake in Palantir Technologies, after reducing its holdings by 3.1% in the second quarter, bringing its total shares to 95,315.
• Palantir Technologies has recently received several updated ratings from analysts, including a price target increase from $90.00 to $141.00 by Goldman Sachs, and a boost from Deutsche Bank from $80.00 to $160.00.
• Insider trading activity has seen significant shares sold, with one insider selling 375,000 shares for roughly $56.7 million, indicating potential shifts in insider confidence.

Axxcess Wealth Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,315 shares of the company's stock after selling 3,068 shares during the quarter. Axxcess Wealth Management LLC's holdings in Palantir Technologies were worth $12,993,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Ignite Planners LLC raised its stake in Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock worth $2,094,000 after acquiring an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. grew its holdings in shares of Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock worth $747,000 after purchasing an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings in shares of Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock worth $1,007,000 after purchasing an additional 73 shares during the last quarter. Boomfish Wealth Group LLC grew its holdings in shares of Palantir Technologies by 2.7% during the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock worth $379,000 after purchasing an additional 73 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of Palantir Technologies by 3.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock worth $329,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings restated a "buy (b-)" rating on shares of Palantir Technologies in a report on Wednesday, October 8th. 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 report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Cantor Fitzgerald upped their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Finally, Citigroup reiterated a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $140.22.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 375,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider owned 702,786 shares in the company, valued at $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,557,750 shares of company stock worth $239,713,896. Company insiders own 12.93% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $177.21 on Tuesday. The business's 50 day simple moving average is $171.65 and its 200 day simple moving average is $141.04. Palantir Technologies Inc. has a one year low of $40.36 and a one year high of $190.00. The stock has a market capitalization of $420.40 billion, a PE ratio of 590.72, a PEG ratio of 9.51 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's revenue was up 48.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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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