FCG Investment Co Purchases New Position in Palantir Technologies Inc. $PLTR

Key Points

• FCG Investment Co acquired a new stake in Palantir Technologies Inc. worth approximately $1.3 million during the second quarter, purchasing 9,554 shares.
• Several institutional investors, including Kingstone Capital Partners and Price T Rowe Associates, have increased their stakes in Palantir, contributing to institutional ownership of 45.65% of the company's stock.
• Wall Street analysts generally rate Palantir's stock as a "Hold," with an average target price of $140.22, despite recent earnings exceeding expectations with revenue up 48.0% year-over-year.

FCG Investment Co purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,554 shares of the company's stock, valued at approximately $1,302,000.

A number of other institutional investors have also recently made changes to their positions in PLTR. Kingstone Capital Partners Texas LLC bought a new position in shares of Palantir Technologies in the 2nd quarter valued at about $2,543,888,000. Nuveen LLC bought a new stake in Palantir Technologies in the first quarter worth about $520,232,000. Price T Rowe Associates Inc. MD lifted its stake in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Finally, Amundi lifted its stake in Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after purchasing an additional 3,815,386 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PLTR shares. UBS Group reissued a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their price objective for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Mizuho set a $165.00 price objective on shares of Palantir Technologies in a research note on Monday, September 15th. Finally, Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $140.22.

Insider Buying and Selling

In related news, 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 completion of the transaction, the insider owned 307,470 shares of the company's stock, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at $106,261,243.20. This trade represents a 34.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,634,634 shares of company stock valued at $250,524,804 over the last ninety days. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Down 0.2%

Shares of NASDAQ:PLTR opened at $179.12 on Friday. The company has a market capitalization of $424.93 billion, a price-to-earnings ratio of 597.09, a price-to-earnings-growth ratio of 10.02 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $36.05 and a 52 week high of $190.00. The firm has a 50 day moving average of $165.68 and a 200 day moving average of $132.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS 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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