Cherrydale Wealth Management LLC Invests $230,000 in Palantir Technologies Inc. $PLTR

Key Points

• Cherrydale Wealth Management LLC recently acquired $230,000 worth of Palantir Technologies Inc. shares, purchasing 1,686 shares in the 2nd quarter.
• Analysts provide a consensus price target of $138.28 for Palantir Technologies, with mixed ratings including four "Buy," sixteen "Hold," and two "Sell" recommendations.
• Palantir posted a 48% year-over-year revenue growth during its latest quarterly earnings, reporting $1 billion in revenue and surpassing analyst estimates.

Cherrydale Wealth Management LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,686 shares of the company's stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLTR. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $2,543,888,000. Nuveen LLC acquired a new position in shares of Palantir Technologies in the first quarter worth $520,232,000. Price T Rowe Associates Inc. MD grew its stake in shares of Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Palantir Technologies by 38.5% during the 1st 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 during the last quarter. Finally, Amundi grew its stake in shares of Palantir Technologies by 56.1% during the first quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after purchasing an additional 3,815,386 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,625,634 shares of company stock valued at $248,926,404. 12.93% of the stock is owned by insiders.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded down $3.06 on Monday, reaching $179.33. The company's stock had a trading volume of 45,749,266 shares, compared to its average volume of 60,825,608. The stock's 50-day moving average is $163.92 and its two-hundred day moving average is $131.20. Palantir Technologies Inc. has a 52-week low of $36.05 and a 52-week high of $190.00. The stock has a market capitalization of $425.43 billion, a P/E ratio of 597.79, a PEG ratio of 10.28 and a beta of 2.59.

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 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 analysts' expectations of $939.29 million. During the same period in the prior year, the company earned $0.09 earnings per share. The business's 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. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 5th. Royal Bank Of Canada boosted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $138.28.

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.