Busey Bank Buys New Position in Palantir Technologies Inc. $PLTR

Key Points

• Busey Bank acquired a new stake in Palantir Technologies, purchasing 2,807 shares valued at approximately $383,000 during the second quarter.
• Palantir reported earnings of $0.16 per share for the last quarter, exceeding analysts' expectations of $0.14, with revenue increasing by 48% compared to the same period last year.
• Recent analyst ratings reflect a mixed outlook, with some firms downgrading Palantir's stock from "buy" to "hold" while others have set target prices ranging from $45.00 to $182.00.

Busey Bank purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,807 shares of the company's stock, valued at approximately $383,000.

A number of other large investors have also modified their holdings of PLTR. Revolve Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at $450,000. Bison Wealth LLC grew its position in Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after acquiring an additional 4,667 shares during the period. Two Sigma Investments LP grew its position in Palantir Technologies by 132.4% in the fourth quarter. Two Sigma Investments LP now owns 55,083 shares of the company's stock valued at $4,166,000 after acquiring an additional 31,383 shares during the period. Vise Technologies Inc. grew its position in Palantir Technologies by 41.8% in the fourth quarter. Vise Technologies Inc. now owns 28,584 shares of the company's stock valued at $2,162,000 after acquiring an additional 8,427 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in Palantir Technologies in the fourth quarter valued at $58,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In related news, insider Jeffrey Buckley sold 2,803 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the sale, the insider owned 50,961 shares in the company, valued at $8,000,877. The trade was a 5.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction on 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 sale, the insider owned 702,786 shares in the company, valued at $112,129,506.30. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,634,634 shares of company stock worth $250,524,804 over the last three months. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research analyst reports. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Royal Bank Of Canada raised 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. Mizuho set a $165.00 price target on Palantir Technologies in a research report on Monday, September 15th. Loop Capital increased their price objective on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, 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. Four equities 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $140.22.

Palantir Technologies Stock Up 0.3%

Shares of NASDAQ PLTR traded up $0.54 during midday trading on Tuesday, hitting $179.87. 41,406,770 shares of the company's stock were exchanged, compared to its average volume of 88,702,023. Palantir Technologies Inc. has a 12 month low of $36.05 and a 12 month high of $190.00. The company's 50 day moving average price is $163.92 and its 200 day moving average price is $131.20. The firm has a market capitalization of $426.71 billion, a PE ratio of 598.44, a price-to-earnings-growth ratio of 10.28 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during 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 for the quarter was up 48.0% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.