Focus Partners Wealth Buys 33,506 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Focus Partners Wealth has increased its stake in Palantir Technologies by 8.4% in the first quarter, purchasing 33,506 shares and making their total holdings worth approximately $36.31 million.
• Palantir Technologies reported a quarterly revenue of $1 billion, exceeding analysts' expectations and showing a 48% increase from the previous year, with earnings per share (EPS) of $0.16.
• Several analysts have recently adjusted their ratings and price targets for Palantir, with a consensus price target of $136.61 and a current average rating of "Hold."

Focus Partners Wealth raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,420 shares of the company's stock after purchasing an additional 33,506 shares during the period. Focus Partners Wealth's holdings in Palantir Technologies were worth $36,312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in Palantir Technologies during the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies during the first quarter valued at approximately $27,000. 1248 Management LLC acquired a new position in Palantir Technologies during the first quarter valued at approximately $27,000. Richardson Capital Management LLC acquired a new position in Palantir Technologies during the first quarter valued at approximately $33,000. Finally, Cornerstone Planning Group LLC grew its holdings in Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PLTR shares. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. 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. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Four 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 data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and an average price target of $136.61.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction on 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 transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,604,634 shares of company stock valued at $245,441,454. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Up 4.3%

PLTR traded up $7.07 during trading on Friday, reaching $171.43. 54,323,535 shares of the company's stock were exchanged, compared to its average volume of 75,542,352. Palantir Technologies Inc. has a fifty-two week low of $34.89 and a fifty-two week high of $190.00. The business has a 50 day moving average price of $160.07 and a 200 day moving average price of $126.87. The company has a market capitalization of $406.69 billion, a P/E ratio of 571.45, a PEG ratio of 9.26 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly 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 firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The business'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. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current 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.