Crumly & Associates Inc. Purchases New Position in Palantir Technologies Inc. $PLTR

Key Points

• Crumly & Associates Inc. acquired a new position in Palantir Technologies, purchasing 3,932 shares valued at approximately $536,000 in the 2nd quarter.
• Insiders at Palantir Technologies sold significant portions of their stock, with two key insiders reducing their holdings by 99.69% and 34.79%, respectively.
• Brokerages have set target prices for Palantir Technologies, with estimates ranging from $45.00 to $177.00, and the average rating remains a "Hold".

Crumly & Associates Inc. purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,932 shares of the company's stock, valued at approximately $536,000.

A number of other institutional investors have also recently made changes to their positions in the business. Northern Trust Corp boosted its position in shares of Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after purchasing an additional 64,973 shares in the last quarter. Invesco Ltd. raised its stake in Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after acquiring an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Palantir Technologies by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after acquiring an additional 571,544 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Palantir Technologies by 55.2% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLTR. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. UBS Group reaffirmed 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. Citigroup reaffirmed a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Royal Bank Of Canada increased their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $136.61.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 375,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,604,634 shares of company stock valued at $245,441,454. 9.23% of the stock is owned by insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $171.43 on Friday. The stock has a market capitalization of $406.69 billion, a PE ratio of 571.45, a price-to-earnings-growth ratio of 9.26 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $34.89 and a 12 month high of $190.00. The business has a 50 day simple moving average of $160.07 and a 200-day simple moving average of $126.87.

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

Palantir Technologies 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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