Janney Montgomery Scott LLC Buys 17,747 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Janney Montgomery Scott LLC increased its ownership in Palantir Technologies by 4.5%, acquiring an additional 17,747 shares during the second quarter, bringing its total position to 411,802 shares valued at approximately $56 million.
• Several institutional investors continued to show interest, with 45.65% of Palantir's stock now held by institutional players, indicating a growing confidence in the company's prospects.
• Analysts have varied opinions on Palantir's stock, with a consensus rating of Hold and a target price of $140.22, alongside reports of strong earnings growth and a significant revenue increase of 48% year-over-year.

Janney Montgomery Scott LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 411,802 shares of the company's stock after acquiring an additional 17,747 shares during the period. Janney Montgomery Scott LLC's holdings in Palantir Technologies were worth $56,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. Family Legacy Financial Solutions LLC bought a new position in Palantir Technologies in the 2nd quarter worth approximately $31,000. Adirondack Trust Co. lifted its holdings in shares of Palantir Technologies by 185.0% during the second quarter. Adirondack Trust Co. now owns 285 shares of the company's stock worth $39,000 after buying an additional 185 shares during the last quarter. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the first quarter valued at approximately $25,000. Finally, Wealth Preservation Advisors LLC bought a new position in Palantir Technologies during the first quarter worth $27,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research reports. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. UBS Group reissued a "neutral" rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a report on Tuesday, August 5th. The Goldman Sachs Group increased 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. Finally, Loop Capital boosted their price target on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $140.22.

Insider Activity

In other news, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was 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 $112,129,506.30. The trade was a 4.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Buckley sold 2,803 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the sale, the insider directly owned 50,961 shares of the company's stock, valued at $8,000,877. This represents a 5.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,591,085 shares of company stock valued at $244,676,722. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $182.42 on Wednesday. Palantir Technologies Inc. has a one year low of $36.05 and a one year high of $190.00. The stock's 50-day moving average is $167.37 and its 200-day moving average is $134.98. The firm has a market cap of $432.76 billion, a price-to-earnings ratio of 608.09, a price-to-earnings-growth ratio of 9.98 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, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate 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 was up 48.0% compared to the same quarter last year. During the same period 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. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current 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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