Hartford Investment Management Co. Buys 3,259 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Hartford Investment Management Co. increased its stake in Palantir Technologies by 2.6%, acquiring an additional 3,259 shares during the second quarter, bringing its total holdings to 128,337 shares valued at approximately $17.5 million.
• Recent transactions indicate a significant level of trading among insiders, with a total of 1,634,634 shares sold, valued at around $250.5 million, suggesting changes in their ownership stakes.
• Research firms have raised their target prices for Palantir Technologies, with Bank of America setting a new target at $215.00 and a consensus price target now at $140.22, indicating a generally positive outlook for the stock.

Hartford Investment Management Co. grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,337 shares of the company's stock after buying an additional 3,259 shares during the quarter. Palantir Technologies accounts for approximately 0.6% of Hartford Investment Management Co.'s portfolio, making the stock its 25th largest holding. Hartford Investment Management Co.'s holdings in Palantir Technologies were worth $17,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Kingstone Capital Partners Texas LLC bought a new position in shares of Palantir Technologies during the second quarter valued at about $2,543,888,000. Nuveen LLC bought a new position in shares of Palantir Technologies during the first quarter valued at about $520,232,000. Price T Rowe Associates Inc. MD grew its stake in shares of Palantir Technologies by 55.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after buying an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 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 buying an additional 4,221,392 shares during the last quarter. Finally, Amundi grew its stake in shares of Palantir Technologies by 56.1% during the first quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after buying an additional 3,815,386 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at approximately $112,129,506.30. This trade represents a 4.09% 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 Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total transaction of $440,071.00. Following the transaction, the insider owned 50,961 shares of the company's stock, valued at $8,000,877. The trade was a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,634,634 shares of company stock valued at $250,524,804 over the last ninety days. 9.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLTR. Loop Capital increased their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Mizuho set a $165.00 target price on shares of Palantir Technologies in a report on Monday, September 15th. Finally, Bank of America increased their target price on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $140.22.

Palantir Technologies Price Performance

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

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 the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period last year, the business posted $0.09 earnings per share. Palantir Technologies's quarterly 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. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.

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