Farther Finance Advisors LLC Buys 94,236 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Farther Finance Advisors LLC increased its stake in Palantir Technologies by 248.5% during the second quarter, acquiring an additional 94,236 shares to bring its total holdings to 132,153 shares valued at approximately $18 million.
• Palantir Technologies reported a net margin of 22.18% and revenue of $1 billion for the last quarter, exceeding analyst expectations and reflecting a 48% increase year-over-year.
• Insider sales recently included more than 1.6 million shares of Palantir stock, valued at around $249 million, indicating significant transactions by company insiders.

Farther Finance Advisors LLC grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 248.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,153 shares of the company's stock after buying an additional 94,236 shares during the quarter. Farther Finance Advisors LLC's holdings in Palantir Technologies were worth $18,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Busey Bank acquired a new stake in Palantir Technologies in the second quarter valued at approximately $383,000. Silver Oak Securities Incorporated grew its position in shares of Palantir Technologies by 30.5% in the second quarter. Silver Oak Securities Incorporated now owns 18,398 shares of the company's stock valued at $2,508,000 after purchasing an additional 4,300 shares during the period. CX Institutional grew its position in shares of Palantir Technologies by 245.7% in the second quarter. CX Institutional now owns 2,548 shares of the company's stock valued at $347,000 after purchasing an additional 1,811 shares during the period. Adirondack Trust Co. boosted its position in Palantir Technologies by 185.0% during the second quarter. Adirondack Trust Co. now owns 285 shares of the company's stock worth $39,000 after acquiring an additional 185 shares during the last quarter. Finally, BDF Gestion acquired a new position in Palantir Technologies during the second quarter worth about $4,409,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 3.1%

Shares of PLTR stock opened at $182.39 on Friday. The company has a market capitalization of $432.69 billion, a PE ratio of 607.99, a price-to-earnings-growth ratio of 9.97 and a beta of 2.59. The firm has a fifty day simple moving average of $163.32 and a 200-day simple moving average of $129.92. Palantir Technologies Inc. has a twelve month low of $35.71 and a twelve month 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 for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same period in the prior year, the company earned $0.09 earnings per share. The firm's revenue 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. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and set a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Loop Capital increased their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and an average price target of $138.28.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at approximately $89,611.04. This trade represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,625,634 shares of company stock valued at $248,926,404 over the last 90 days. 9.23% of the stock is owned by corporate insiders.

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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