Laffer Tengler Investments Inc. Raises Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Laffer Tengler Investments Inc. significantly increased its stake in Palantir Technologies by 333.7%, acquiring a total of 12,817 shares worth $1,082,000.
• Several major hedge funds, including Goldman Sachs Group Inc. and Invesco Ltd., also increased their holdings in Palantir, suggesting strong institutional interest in the company.
• Palantir reported a revenue of $1 billion for the last quarter, exceeding analyst expectations and demonstrating a year-over-year revenue growth of 48.0%.

Laffer Tengler Investments Inc. increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 333.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,817 shares of the company's stock after buying an additional 9,862 shares during the period. Laffer Tengler Investments Inc.'s holdings in Palantir Technologies were worth $1,082,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of Palantir Technologies by 0.3% in the 1st 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 in the last quarter. Invesco Ltd. boosted its stake in shares of 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 in the last quarter. Goldman Sachs Group Inc. increased 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 buying an additional 4,221,392 shares during the period. Charles Schwab Investment Management Inc. increased 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 buying an additional 571,544 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after buying an additional 4,748,513 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $156.18 on Friday. The business's 50-day moving average is $153.18 and its 200 day moving average is $121.39. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year high of $190.00. The firm has a market capitalization of $370.51 billion, a P/E ratio of 520.62, a P/E/G ratio of 8.79 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping 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 business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The company'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, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada raised their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research 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 company a "neutral" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $136.61.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 30,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the insider directly owned 363,755 shares of the company's stock, valued at approximately $63,657,125. This represents a 7.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 529,684 shares of company stock worth $71,900,350 in the last quarter. 9.23% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.