Envestnet Portfolio Solutions Inc. Purchases 21,692 Shares of Palantir Technologies Inc. $PLTR

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,646 shares of the company's stock after purchasing an additional 21,692 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Palantir Technologies were worth $13,856,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Signature Resources Capital Management LLC bought a new position in Palantir Technologies in the 2nd quarter worth approximately $25,000. Family Legacy Financial Solutions LLC bought a new position in shares of Palantir Technologies in the second quarter worth $31,000. Adirondack Trust Co. grew its position in shares of Palantir Technologies by 185.0% in the second quarter. Adirondack Trust Co. now owns 285 shares of the company's stock valued at $39,000 after purchasing an additional 185 shares in the last quarter. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the 1st quarter valued at $25,000. Finally, JNBA Financial Advisors lifted its holdings in Palantir Technologies by 200.0% during the 2nd quarter. JNBA Financial Advisors now owns 300 shares of the company's stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $177.21 on Tuesday. Palantir Technologies Inc. has a 52-week low of $40.36 and a 52-week high of $190.00. The company's 50 day moving average price is $171.65 and its 200-day moving average price is $141.04. The stock has a market capitalization of $420.40 billion, a price-to-earnings ratio of 590.72, a P/E/G ratio of 9.51 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate 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 net margin of 22.18% and a return on equity of 10.75%. The firm's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. 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 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total value of $149,112.00. Following the sale, the director directly owned 62,087 shares in the company, valued at approximately $11,572,395.93. This trade represents a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,557,750 shares of company stock valued at $239,713,896 over the last ninety days. Corporate insiders own 12.93% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Mizuho set a $165.00 target price on Palantir Technologies in a research report on Monday, September 15th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 5th. 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $140.22.

About Palantir Technologies

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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