Beaumont Financial Advisors LLC Purchases Shares of 2,609 Palantir Technologies Inc. $PLTR

Key Points

• Beaumont Financial Advisors LLC acquired 2,609 shares of Palantir Technologies Inc. valued at approximately $356,000 during the second quarter.
• Insiders at Palantir Technologies sold over 1.6 million shares worth approximately $250 million in the last 90 days, with insiders owning 9.23% of the company’s stock following these transactions.
• Palantir Technologies reported a 48% increase in quarterly revenue year-over-year, with earnings per share beating analysts' estimates.

Beaumont Financial Advisors LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,609 shares of the company's stock, valued at approximately $356,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies in the first quarter worth $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Palantir Technologies in the first quarter worth $27,000. 1248 Management LLC acquired a new stake in shares of Palantir Technologies in the first quarter worth $27,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Palantir Technologies in the second quarter worth $31,000. Finally, Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the first quarter worth $33,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,634,634 shares of company stock valued at $250,524,804. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $177.57 on Friday. Palantir Technologies Inc. has a twelve month low of $36.05 and a twelve month high of $190.00. The firm has a market cap of $421.26 billion, a PE ratio of 591.92, a price-to-earnings-growth ratio of 9.99 and a beta of 2.59. The business has a fifty day moving average of $166.16 and a 200-day moving average of $133.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its 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. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their price objective for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Bank of America raised their target price on Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday. Citigroup reaffirmed a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. The Goldman Sachs Group raised their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Piper Sandler set a $182.00 target price on Palantir Technologies in a research report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $140.22.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.