Iams Wealth Management LLC Buys Shares of 1,695 Palantir Technologies Inc. $PLTR

Key Points

• Iams Wealth Management LLC acquired 1,695 shares of Palantir Technologies Inc. for approximately $231,000 during the 2nd quarter.
• Palantir reported a 48% year-over-year revenue increase, with $1 billion in revenue for the recent quarter and earnings per share beating estimates at $0.16.
• Insiders have sold over 1.6 million shares in the company recently, representing a total value of approximately $250 million.

Iams Wealth Management LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,695 shares of the company's stock, valued at approximately $231,000.

Several other institutional investors have also added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. boosted its holdings in Palantir Technologies by 3.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock worth $329,000 after acquiring an additional 80 shares in the last quarter. Optima Capital LLC boosted its holdings in Palantir Technologies by 0.6% in the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after acquiring an additional 81 shares in the last quarter. Allegiance Financial Group Advisory Services LLC boosted its holdings in Palantir Technologies by 3.0% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after acquiring an additional 84 shares in the last quarter. Delta Investment Management LLC boosted its holdings in Palantir Technologies by 1.9% in the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock worth $398,000 after acquiring an additional 90 shares in the last quarter. Finally, Sovran Advisors LLC boosted its holdings in Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $179.33 on Tuesday. Palantir Technologies Inc. has a 1 year low of $36.05 and a 1 year high of $190.00. The firm has a market capitalization of $425.43 billion, a price-to-earnings ratio of 597.79, a price-to-earnings-growth ratio of 10.28 and a beta of 2.59. The business's 50 day moving average price is $163.92 and its 200-day moving average price is $131.20.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the firm posted $0.09 EPS. The business's revenue was up 48.0% on a year-over-year basis. 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 earnings per share for the current year.

Insider Activity

In other news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction that occurred 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 transaction, the insider owned 307,470 shares in the company, valued at $48,687,874.50. This trade represents a 10.49% decrease in their position. 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 stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider owned 702,786 shares in the company, 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. Over the last ninety days, insiders have sold 1,634,634 shares of company stock worth $250,524,804. Insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PLTR shares. Citigroup reissued a "neutral" rating and issued a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Loop Capital lifted their target price on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald lifted their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $138.28.

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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