Centric Wealth Management Increases Position in Palantir Technologies Inc. $PLTR

Key Points

• Centric Wealth Management increased its holdings in Palantir Technologies by 27.3% in the first quarter, owning a total of 29,439 shares valued at approximately $2.48 million.
• The company reported $1 billion in revenue for the quarter, surpassing analysts' expectations and marking a 48% increase compared to the previous year.
• Palantir Technologies' stock currently has a consensus rating of "Hold" with a price target of $136.61, amidst ratings upgrades and downgrades from various analysts.

Centric Wealth Management increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,439 shares of the company's stock after purchasing an additional 6,305 shares during the quarter. Centric Wealth Management's holdings in Palantir Technologies were worth $2,485,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Northern Trust Corp increased its stake in shares of Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. raised its holdings in 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 purchasing an additional 4,221,392 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after buying an additional 571,544 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after purchasing an additional 4,748,513 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $0.38 during mid-day trading on Tuesday, reaching $157.09. 65,080,870 shares of the company traded hands, compared to its average volume of 91,394,445. The firm has a market capitalization of $372.67 billion, a price-to-earnings ratio of 523.65, a P/E/G ratio of 8.83 and a beta of 2.59. The firm's 50 day moving average price is $155.80 and its 200 day moving average price is $123.74. Palantir Technologies Inc. has a 52-week low of $29.31 and a 52-week high of $190.00.

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, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the previous year, the company posted $0.09 earnings per share. The firm's revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PLTR shares. 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. UBS Group reaffirmed a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Finally, DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $136.61.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the sale, the insider owned 363,755 shares in the company, valued at $49,219,689.05. This represents a 8.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,906,783 shares of company stock worth $282,471,442. 12.93% of the stock is owned by company insiders.

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.