Maryland State Retirement & Pension System Boosts Stake in Palantir Technologies Inc. $PLTR

Key Points

• The Maryland State Retirement & Pension System increased its stake in Palantir Technologies by 9.9%, owning a total of 105,969 shares valued at approximately $14.4 million at the end of the second quarter.
• Palantir reported earnings of $0.16 per share for the last quarter, exceeding estimates, with a revenue of $1 billion, reflecting a 48% year-over-year increase.
• Insider trading activity included significant sales, with Shyam Sankar selling 375,000 shares for over $56 million, representing a notable decrease in ownership.

Maryland State Retirement & Pension System increased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,969 shares of the company's stock after buying an additional 9,549 shares during the period. Maryland State Retirement & Pension System's holdings in Palantir Technologies were worth $14,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Optas LLC lifted its stake in shares of Palantir Technologies by 20.3% in the 2nd quarter. Optas LLC now owns 11,684 shares of the company's stock valued at $1,593,000 after purchasing an additional 1,968 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in Palantir Technologies by 28.5% in the second quarter. Clear Creek Financial Management LLC now owns 19,453 shares of the company's stock worth $2,652,000 after buying an additional 4,310 shares during the last quarter. Virtus Wealth Solutions LLC bought a new stake in Palantir Technologies in the second quarter worth $3,213,000. Ignite Planners LLC lifted its position in Palantir Technologies by 0.4% in the second quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock worth $2,094,000 after buying an additional 66 shares during the last quarter. Finally, Castle Rock Wealth Management LLC lifted its position in Palantir Technologies by 3.9% in the second quarter. Castle Rock Wealth Management LLC now owns 31,404 shares of the company's stock worth $4,281,000 after buying an additional 1,166 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR opened at $183.56 on Thursday. The stock has a market cap 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. The stock's 50 day moving average price is $170.35 and its 200-day moving average price is $138.57. Palantir Technologies Inc. has a one year low of $40.36 and a one year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLTR has been the subject of a number of analyst reports. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald raised their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Bank of America upped their target price on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and upped their target price for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $140.22.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 375,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 of the company's stock, valued at $106,261,243.20. This represents a 34.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock valued at $244,714,146 over the last 90 days. 9.23% of the stock is owned by insiders.

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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