Cypress Point Wealth Management LLC Purchases 3,940 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Cypress Point Wealth Management LLC has a significant position in Palantir Technologies Inc., holding $168.10 million worth of shares, which represents 40.9% of its investment portfolio.
• Insider transactions have been notable, with significant sales occurring, including 30,000 shares sold by insider Shyam Sankar valued at approximately $4.79 million.
• Wall Street analysts have provided mixed ratings, with target prices varying and a consensus recommendation of "Hold" alongside a price target of $138.28.

Cypress Point Wealth Management LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,233,132 shares of the company's stock after purchasing an additional 3,940 shares during the period. Palantir Technologies makes up 40.9% of Cypress Point Wealth Management LLC's investment portfolio, making the stock its largest holding. Cypress Point Wealth Management LLC owned 0.05% of Palantir Technologies worth $168,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 acquiring an additional 1,135,841 shares during the last quarter. Hummer Financial Advisory Services Inc acquired a new stake in shares of Palantir Technologies during the second quarter valued at $225,000. Fox Hill Wealth Management boosted its stake in shares of Palantir Technologies by 5.9% during the 2nd quarter. Fox Hill Wealth Management now owns 41,470 shares of the company's stock worth $5,653,000 after purchasing an additional 2,325 shares during the last quarter. Bank of New Hampshire boosted its stake in shares of Palantir Technologies by 11.4% during the 2nd quarter. Bank of New Hampshire now owns 19,842 shares of the company's stock worth $2,705,000 after purchasing an additional 2,023 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after buying an additional 6,479 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLTR. Royal Bank Of Canada lifted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a research report on Tuesday, August 5th. Mizuho set a $165.00 target price on Palantir Technologies in a research note on Monday. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Loop Capital upped their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $138.28.

Insider Activity

In other news, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the insider directly owned 702,786 shares in the company, valued at $112,129,506.30. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,625,634 shares of company stock worth $248,926,404 in the last quarter. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $8.64 during trading on Thursday, reaching $176.97. 70,565,358 shares of the stock were exchanged, compared to its average volume of 61,669,568. The firm's 50-day moving average price is $162.51 and its 200 day moving average price is $129.24. The firm has a market cap of $419.83 billion, a price-to-earnings ratio of 589.92, a price-to-earnings-growth ratio of 9.49 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $35.71 and a 12-month high of $190.00.

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