Evanson Asset Management LLC Acquires Shares of 2,218 Palantir Technologies Inc. $PLTR

Key Points

• Evanson Asset Management LLC has acquired a new stake of 2,218 shares in Palantir Technologies, valued at approximately $302,000, as reported in a recent 13F filing.
• Recent trading activity saw insiders like Alexander C. Karp sell shares worth over $33 million, leading to a 9.23% insider ownership in the company.
• Palantir posted a 48% year-over-year revenue increase in its latest earnings report, reaching $1 billion, and has a target price consensus of $140.22 among analysts.

Evanson Asset Management LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,218 shares of the company's stock, valued at approximately $302,000.

A number of other hedge funds have also recently modified their holdings of the business. StoneCrest Wealth Management Inc. boosted its holdings in shares of Palantir Technologies by 5.0% during the 2nd quarter. StoneCrest Wealth Management Inc. now owns 9,848 shares of the company's stock valued at $1,342,000 after buying an additional 472 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Palantir Technologies by 23.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 908,712 shares of the company's stock valued at $123,876,000 after buying an additional 171,441 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Palantir Technologies by 13.1% during the 2nd quarter. Financial Management Professionals Inc. now owns 1,054 shares of the company's stock valued at $144,000 after buying an additional 122 shares in the last quarter. Sara Bay Financial bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at $273,000. Finally, Ballentine Partners LLC boosted its holdings in shares of Palantir Technologies by 15.4% during the 2nd quarter. Ballentine Partners LLC now owns 24,593 shares of the company's stock valued at $3,353,000 after buying an additional 3,288 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the transaction, the insider owned 431,169 shares in the company, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,634,634 shares of company stock worth $250,524,804. 9.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research reports. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Royal Bank Of Canada boosted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price target for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, Mizuho set a $165.00 price target on shares of Palantir Technologies in a research note on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $140.22.

Palantir Technologies Stock Performance

PLTR opened at $179.56 on Thursday. The stock has a market capitalization of $425.98 billion, a P/E ratio of 598.55, a P/E/G ratio of 10.29 and a beta of 2.59. The company's 50-day simple moving average is $165.17 and its two-hundred day simple moving average is $131.89. Palantir Technologies Inc. has a 52-week low of $36.05 and a 52-week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion for 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 business'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 business earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts forecast 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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