D.A. Davidson & CO. Increases Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• D.A. Davidson & CO. increased its stake in Palantir Technologies Inc. by 9.4% in Q2, bringing its total holdings to 81,875 shares worth approximately $11.16 million.
• Several analysts have raised their price targets for Palantir Technologies, with Bank of America setting a new target of $215.00 and 5 analysts giving the stock a Buy rating while 15 maintain a Hold rating.
• Palantir Technologies reported a 48% year-over-year revenue growth for the last quarter, totaling $1 billion, with earnings per share (EPS) of $0.16.

D.A. Davidson & CO. increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,875 shares of the company's stock after acquiring an additional 7,024 shares during the quarter. D.A. Davidson & CO.'s holdings in Palantir Technologies were worth $11,161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cavalier Investments LLC lifted its stake in Palantir Technologies by 8.5% in the second quarter. Cavalier Investments LLC now owns 47,540 shares of the company's stock worth $6,481,000 after acquiring an additional 3,739 shares during the period. Dupree Financial Group LLC purchased a new stake in Palantir Technologies in the second quarter worth $2,707,000. IMG Wealth Management Inc. lifted its stake in Palantir Technologies by 10.3% in the second quarter. IMG Wealth Management Inc. now owns 1,336 shares of the company's stock worth $182,000 after acquiring an additional 125 shares during the period. Jackson Thornton Wealth Management LLC purchased a new stake in Palantir Technologies in the second quarter worth $276,000. Finally, Divergent Planning LLC purchased a new stake in Palantir Technologies in the second quarter worth $1,217,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. The Goldman Sachs Group raised their price objective on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Mizuho set a $165.00 price objective on Palantir Technologies in a research report on Monday, September 15th. Bank of America raised their price objective on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Citigroup reissued a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $141.28.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $175.49 on Thursday. Palantir Technologies Inc. has a one year low of $40.90 and a one year high of $190.00. The stock has a 50-day moving average of $171.21 and a 200 day moving average of $144.89. The company has a market capitalization of $416.32 billion, a price-to-earnings ratio of 584.99, a PEG ratio of 9.84 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $939.29 million. During the same period last year, the company earned $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. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,557,750 shares of company stock valued at $239,713,896. 9.23% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.