Cross Staff Investments Inc Buys New Stake in Palantir Technologies Inc. $PLTR

Key Points

• Cross Staff Investments Inc has acquired a new stake in Palantir Technologies, purchasing 3,000 shares valued at approximately $409,000 during the second quarter.
• Several institutional investors have increased their stakes in Palantir, with UBS AM raising its position by 10.8%, now holding over 11.6 million shares valued at nearly $985 million.
• Analysts have set new price targets for Palantir Technologies, with Bank of America increasing its target from $180.00 to $215.00, indicating a strong bullish sentiment toward the company.

Cross Staff Investments Inc acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,000 shares of the company's stock, valued at approximately $409,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Truist Financial Corp grew its position in shares of Palantir Technologies by 4.2% during the second quarter. Truist Financial Corp now owns 537,000 shares of the company's stock worth $73,204,000 after buying an additional 21,809 shares in the last quarter. New Century Financial Group LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth approximately $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock valued at $984,786,000 after acquiring an additional 1,135,841 shares in the last quarter. Synergy Asset Management LLC raised its position in shares of Palantir Technologies by 37.1% during the 2nd quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock valued at $1,312,000 after acquiring an additional 2,606 shares in the last quarter. Finally, Golden State Equity Partners raised its position in shares of Palantir Technologies by 10.1% during the 2nd quarter. Golden State Equity Partners now owns 18,361 shares of the company's stock valued at $2,503,000 after acquiring an additional 1,677 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America upped their price target on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. The Goldman Sachs Group upped their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. UBS Group reissued a "neutral" rating and set a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of Palantir Technologies in a research report on Wednesday. Finally, Mizuho set a $165.00 price target on Palantir Technologies in a research report on Monday, September 15th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $140.22.

Palantir Technologies Stock Down 5.4%

NASDAQ:PLTR opened at $175.44 on Friday. Palantir Technologies Inc. has a 1-year low of $40.36 and a 1-year high of $190.00. The firm has a market capitalization of $416.20 billion, a price-to-earnings ratio of 584.82, a price-to-earnings-growth ratio of 10.05 and a beta of 2.60. The stock has a fifty day simple moving average of $171.32 and a 200 day simple moving average of $139.72.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating 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 business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the company posted $0.09 EPS. Palantir Technologies's revenue for the quarter 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. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 81,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares in the company, valued at $66,602,675.43. This trade represents a 15.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,591,085 shares of company stock worth $244,714,146 over the last three months. Company insiders own 9.23% of the company's stock.

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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