GM Advisory Group LLC Acquires 2,737 Shares of Palantir Technologies Inc. $PLTR

Key Points

• GM Advisory Group LLC increased its stake in Palantir Technologies by 45.6%, acquiring an additional 2,737 shares, bringing its total to 8,734 shares valued at approximately $737,000.
• Several institutional investors, including Northern Trust Corp and Goldman Sachs Group Inc., also raised their positions in Palantir Technologies, contributing to a total institutional ownership of 45.65%.
• Palantir Technologies reported a quarterly EPS of $0.16, exceeding analysts' expectations, with revenue of $1 billion and a year-over-year increase of 48.0%.

GM Advisory Group LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 45.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,734 shares of the company's stock after buying an additional 2,737 shares during the quarter. GM Advisory Group LLC's holdings in Palantir Technologies were worth $737,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PLTR. Northern Trust Corp lifted its holdings in Palantir Technologies by 0.3% during the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after purchasing an additional 64,973 shares during the last quarter. Invesco Ltd. lifted its holdings in Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after purchasing an additional 571,544 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Palantir Technologies by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock valued at $1,099,861,000 after purchasing an additional 187,860 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PLTR shares. UBS Group reaffirmed a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Loop Capital upped their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Bank of America increased their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Stock Performance

PLTR traded up $2.56 on Friday, reaching $158.74. The company had a trading volume of 101,782,072 shares, compared to its average volume of 77,128,816. The business has a 50 day simple moving average of $153.61 and a 200 day simple moving average of $121.77. The company has a market cap of $376.59 billion, a price-to-earnings ratio of 529.15, a P/E/G ratio of 8.80 and a beta of 2.60. Palantir Technologies Inc. has a 52-week low of $29.31 and a 52-week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share 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 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 quarterly revenue was up 48.0% on a year-over-year basis. During the same period last year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 9,211 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $1,434,613.25. Following the sale, the insider directly owned 343,518 shares of the company's stock, valued at $53,502,928.50. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Glazer sold 8,047 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $155.75, for a total transaction of $1,253,320.25. Following the completion of the sale, the insider directly owned 474,399 shares in the company, valued at $73,887,644.25. This represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,906,783 shares of company stock valued at $282,471,442 over the last three months. Corporate insiders own 9.23% of the company's stock.

About Palantir Technologies

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.