Coastline Trust Co Increases Stake in Palantir Technologies Inc. $PLTR

Key Points

• Coastline Trust Co increased its stake in Palantir Technologies Inc. by 560.6% during the second quarter, now holding shares worth approximately $2.5 million.
• Palantir Technologies reported a 48% increase in revenue year-over-year, reaching $1 billion for the last quarter, with earnings per share beating expectations.
• Analysts have set target prices for Palantir shares ranging from $165 to $200, with a consensus rating of "Hold" and an average target price of $140.22.

Coastline Trust Co raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 560.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,438 shares of the company's stock after buying an additional 15,647 shares during the quarter. Coastline Trust Co's holdings in Palantir Technologies were worth $2,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Mechanics Financial Corp bought a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $25,000. Signature Resources Capital Management LLC bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $27,000. 1248 Management LLC bought a new position in shares of Palantir Technologies during the 1st quarter valued at approximately $27,000. Finally, Family Legacy Financial Solutions LLC bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $31,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Down 0.9%

Shares of Palantir Technologies stock opened at $177.57 on Friday. The firm has a market cap of $421.26 billion, a P/E ratio of 591.92, a P/E/G ratio of 9.91 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $36.05 and a 12 month high of $190.00. The stock's fifty day moving average price is $166.16 and its 200-day moving average price is $133.63.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm's quarterly 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. Analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the sale, the insider owned 307,470 shares of the company's stock, valued at $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,634,634 shares of company stock valued at $250,524,804. 9.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on PLTR shares. Piper Sandler set a $182.00 target price on Palantir Technologies in a research report on Tuesday, August 5th. Citigroup restated a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. UBS Group restated a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Four 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 MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $140.22.

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.

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