Masso Torrence Wealth Management Inc. Buys 2,515 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Masso Torrence Wealth Management Inc. increased its stake in Palantir Technologies by 97.5%, holding 5,095 shares valued at $695,000.
• Palantir Technologies reported a quarterly revenue of $1 billion, significantly exceeding the consensus estimate of $939.29 million, and the company has projected earnings per share of $0.31 for the current year.
• Analyst price targets for Palantir vary, with UBS setting a target of $165.00, while Cantor Fitzgerald set a target of $155.00, reflecting a generally cautious outlook with a consensus rating of "Hold."

Masso Torrence Wealth Management Inc. grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 97.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,095 shares of the company's stock after buying an additional 2,515 shares during the quarter. Masso Torrence Wealth Management Inc.'s holdings in Palantir Technologies were worth $695,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. increased its position in Palantir Technologies by 3.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock worth $329,000 after buying an additional 80 shares in the last quarter. Optima Capital LLC lifted its stake in shares of Palantir Technologies by 0.6% in the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after acquiring an additional 81 shares in the last quarter. Allegiance Financial Group Advisory Services LLC lifted its stake in shares of Palantir Technologies by 3.0% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after acquiring an additional 84 shares in the last quarter. Delta Investment Management LLC increased its holdings in Palantir Technologies by 1.9% in the first quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock valued at $398,000 after buying an additional 90 shares during the last quarter. Finally, Sovran Advisors LLC grew its holdings in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Down 1.7%

Shares of PLTR stock traded down $3.06 on Monday, hitting $179.33. The stock had a trading volume of 45,749,266 shares, compared to its average volume of 60,825,608. The firm has a market cap of $425.43 billion, a P/E ratio of 597.79, a PEG ratio of 10.28 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $36.05 and a twelve month high of $190.00. The company has a fifty day moving average price of $163.92 and a two-hundred day moving average price of $131.20.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its 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 net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the prior year, the business earned $0.09 EPS. The company's revenue for the quarter 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. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLTR. Wedbush set a $200.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Citigroup reissued a "neutral" rating and set a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Wall Street Zen cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $138.28.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction dated 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 directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,625,634 shares of company stock worth $248,926,404 in the last 90 days. 12.93% of the stock is owned by corporate 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.