Essex Savings Bank Takes Position in Palantir Technologies Inc. $PLTR

Key Points

• Essex Savings Bank acquired a new position in Palantir Technologies by purchasing 1,917 shares valued at approximately $261,000.
• Multiple institutional investors, including SeaCrest Wealth Management and Diversified Trust Co, reported significant increases in their stakes in Palantir during the 2nd quarter.
• Analysts have mixed ratings for Palantir, with a consensus rating of "Hold" and a target price ranging from $40.00 to $177.00 across various investment firms.

Essex Savings Bank acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,917 shares of the company's stock, valued at approximately $261,000.

Other institutional investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC grew its stake in Palantir Technologies by 9.1% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 57,150 shares of the company's stock worth $7,791,000 after acquiring an additional 4,752 shares during the period. Diversified Trust Co grew its stake in Palantir Technologies by 13.5% in the 2nd quarter. Diversified Trust Co now owns 25,991 shares of the company's stock worth $3,543,000 after acquiring an additional 3,100 shares during the period. Assenagon Asset Management S.A. grew its stake in Palantir Technologies by 11.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 55,140 shares of the company's stock worth $7,517,000 after acquiring an additional 5,489 shares during the period. Perpetual Ltd grew its stake in Palantir Technologies by 118.2% in the 2nd quarter. Perpetual Ltd now owns 18,550 shares of the company's stock worth $2,529,000 after acquiring an additional 10,047 shares during the period. Finally, International Private Wealth Advisors LLC grew its stake in Palantir Technologies by 47.7% in the 2nd quarter. International Private Wealth Advisors LLC now owns 4,308 shares of the company's stock worth $587,000 after acquiring an additional 1,391 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group reaffirmed a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. 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. Finally, Citigroup reissued a "neutral" rating and set a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $138.28.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the sale, the insider owned 702,786 shares in the company, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,625,634 shares of company stock worth $248,926,404. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $182.39 on Friday. The firm has a market cap of $432.69 billion, a PE ratio of 607.99, a price-to-earnings-growth ratio of 10.28 and a beta of 2.59. The firm's 50-day simple moving average is $163.32 and its 200-day simple moving average is $130.19. Palantir Technologies Inc. has a 1 year low of $35.71 and a 1 year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. 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 year.

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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