IVC Wealth Advisors LLC Acquires Shares of 3,675 Palantir Technologies Inc. $PLTR

Key Points

• IVC Wealth Advisors LLC acquired a stake of 3,675 shares in Palantir Technologies Inc., valued at approximately $501,000, indicating growing institutional interest in the company.
• Palantir Technologies reported revenue of $1 billion for the latest quarter, significantly surpassing analyst expectations, with a 48% year-over-year increase.
• Despite recent positive earnings, Palantir's stock is down 7.5%, with a current market cap of $410.58 billion and mixed ratings from analysts.

IVC Wealth Advisors LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,675 shares of the company's stock, valued at approximately $501,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $450,000. Bison Wealth LLC lifted its stake in Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after buying an additional 4,667 shares during the last quarter. NBC Securities Inc. lifted its stake in Palantir Technologies by 84,775.0% in the first quarter. NBC Securities Inc. now owns 3,395 shares of the company's stock valued at $286,000 after buying an additional 3,391 shares during the last quarter. Beacon Financial Group purchased a new stake in shares of Palantir Technologies during the first quarter worth approximately $284,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Palantir Technologies by 86.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,333 shares of the company's stock worth $281,000 after purchasing an additional 1,548 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Down 7.5%

NASDAQ PLTR opened at $173.07 on Friday. Palantir Technologies Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $190.00. The business has a fifty day moving average of $168.90 and a 200-day moving average of $136.98. The stock has a market cap of $410.58 billion, a price-to-earnings ratio of 576.92, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS 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 analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLTR. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Royal Bank Of Canada upped their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Finally, UBS Group restated a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $140.22.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider owned 702,786 shares of the company's stock, valued at $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $177.60, for a total transaction of $1,598,400.00. Following the completion of the transaction, the director directly owned 50,794 shares of the company's stock, valued at approximately $9,021,014.40. This represents a 15.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,591,085 shares of company stock worth $244,676,722 over the last three months. Company 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.

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