Mainstay Capital Management LLC ADV Has $6.21 Million Position in Palantir Technologies Inc. $PLTR

Key Points

• Mainstay Capital Management LLC ADV increased its stake in Palantir Technologies by 104.2% during the 2nd quarter, holding shares worth approximately $6.21 million.
• Palantir Technologies reported a quarterly revenue of $1 billion, exceeding analyst expectations of $939.29 million, with a year-over-year growth of 48%.
• The stock currently has an average rating of "Hold" from analysts, with target prices ranging from $45 to $180.

Mainstay Capital Management LLC ADV increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 104.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,522 shares of the company's stock after acquiring an additional 23,233 shares during the period. Palantir Technologies comprises approximately 0.3% of Mainstay Capital Management LLC ADV's investment portfolio, making the stock its 24th largest holding. Mainstay Capital Management LLC ADV's holdings in Palantir Technologies were worth $6,206,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies during the second quarter worth $25,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter worth about $31,000. Adirondack Trust Co. raised its holdings in shares of Palantir Technologies by 185.0% in the 2nd quarter. Adirondack Trust Co. now owns 285 shares of the company's stock valued at $39,000 after purchasing an additional 185 shares during the period. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the 1st quarter valued at about $25,000. Finally, Park Place Capital Corp increased its position in Palantir Technologies by 48.1% during the second quarter. Park Place Capital Corp now owns 308 shares of the company's stock worth $40,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Up 0.8%

PLTR opened at $183.56 on Thursday. The stock has a market capitalization of $435.47 billion, a price-to-earnings ratio of 611.89, a P/E/G ratio of 9.87 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $40.36 and a twelve month high of $190.00. The company has a 50-day simple moving average of $170.35 and a 200 day simple moving average of $138.57.

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. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PLTR has been the subject of several research analyst reports. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and set a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and increased their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Loop Capital upped their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada lifted their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average target price of $140.22.

Insider Buying and Selling at Palantir Technologies

In related news, 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 sale, the insider directly owned 50,961 shares of the company's stock, valued at approximately $8,000,877. The trade was a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the sale, the insider owned 307,470 shares in the company, valued at $48,687,874.50. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,591,085 shares of company stock worth $244,714,146 over 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.

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