Connective Portfolio Management LLC Acquires New Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Connective Portfolio Management LLC has acquired 5,820 shares of Palantir Technologies Inc. valued at approximately $793,000, marking the stock as its 22nd biggest holding.
• Insider Shyam Sankar sold 30,000 shares of Palantir, resulting in a 4.09% decrease in their position.
• Palantir Technologies reported a 48.0% year-over-year revenue growth for the last quarter, achieving revenue of $1 billion and surpassing expected figures.

Connective Portfolio Management LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 5,820 shares of the company's stock, valued at approximately $793,000. Palantir Technologies accounts for about 1.7% of Connective Portfolio Management LLC's investment portfolio, making the stock its 22nd biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Westmount Partners LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $355,000. Beacon Financial Group grew its position in shares of Palantir Technologies by 37.7% in the 2nd quarter. Beacon Financial Group now owns 4,626 shares of the company's stock valued at $631,000 after purchasing an additional 1,266 shares during the period. Reyes Financial Architecture Inc. grew its position in shares of Palantir Technologies by 696.2% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 1,680 shares of the company's stock valued at $229,000 after purchasing an additional 1,469 shares during the period. Czech National Bank grew its position in shares of Palantir Technologies by 10.4% in the 2nd quarter. Czech National Bank now owns 519,946 shares of the company's stock valued at $70,879,000 after purchasing an additional 49,135 shares during the period. Finally, Sandy Cove Advisors LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $243,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 30,000 shares of the company'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 transaction 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey Buckley sold 2,803 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the sale, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. This represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,625,634 shares of company stock worth $248,926,404. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Down 0.1%

Shares of Palantir Technologies stock opened at $171.21 on Tuesday. Palantir Technologies Inc. has a 12-month low of $35.56 and a 12-month high of $190.00. The stock has a market cap of $406.17 billion, a P/E ratio of 570.72, a P/E/G ratio of 9.66 and a beta of 2.59. The business's 50 day moving average is $160.71 and its 200-day moving average is $128.03.

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. 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 analysts' expectations of $939.29 million. During the same quarter in the prior year, the business posted $0.09 EPS. 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. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the subject of several research analyst reports. Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. The Goldman Sachs Group upped their price target on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Mizuho set a $165.00 price target on Palantir Technologies in a research report on Monday. 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, Bank of America upped their price target on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average 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.

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