Congress Asset Management Co. Purchases 7,886 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Congress Asset Management Co. increased its stake in Palantir Technologies by 13.3%, acquiring an additional 7,886 shares, bringing its total holdings to 67,000 shares worth approximately $9.13 million.
• Palantir reported a 48% revenue increase year-over-year with $1 billion in revenue and earnings per share of $0.16, exceeding analysts' expectations of $0.14.
• Several institutional investors have also recently adjusted their positions in Palantir, with notable increases in stakes from firms like UBS Asset Management and Golden State Equity Partners.

Congress Asset Management Co. lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 67,000 shares of the company's stock after buying an additional 7,886 shares during the period. Congress Asset Management Co.'s holdings in Palantir Technologies were worth $9,133,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Palantir Technologies by 10.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock worth $984,786,000 after buying an additional 1,135,841 shares in the last quarter. Golden State Equity Partners raised its holdings in shares of Palantir Technologies by 10.1% during the second quarter. Golden State Equity Partners now owns 18,361 shares of the company's stock valued at $2,503,000 after purchasing an additional 1,677 shares during the last quarter. Hummer Financial Advisory Services Inc purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $225,000. Bank of New Hampshire raised its holdings in shares of Palantir Technologies by 11.4% during the second quarter. Bank of New Hampshire now owns 19,842 shares of the company's stock valued at $2,705,000 after purchasing an additional 2,023 shares during the last quarter. Finally, Fox Hill Wealth Management raised its holdings in shares of Palantir Technologies by 5.9% during the second quarter. Fox Hill Wealth Management now owns 41,470 shares of the company's stock valued at $5,653,000 after purchasing an additional 2,325 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 0.9%

Shares of PLTR stock opened at $177.57 on Friday. The stock has a market cap of $421.26 billion, a P/E ratio of 591.92, a P/E/G ratio of 9.99 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 company has a 50 day simple moving average of $166.16 and a two-hundred day simple moving average of $133.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey Buckley sold 2,803 shares of the 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 completion of the sale, the insider directly owned 50,961 shares of the company's stock, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,634,634 shares of company stock valued at $250,524,804. Company insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PLTR shares. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 5th. Bank of America boosted their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Loop Capital upped their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $140.22.

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.

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