McKinley Carter Wealth Services Inc. Buys New Holdings in Palantir Technologies Inc. $PLTR

Key Points

• McKinley Carter Wealth Services has purchased a new stake in Palantir Technologies Inc., acquiring 1,717 shares valued at approximately $234,000 during the 2nd quarter.
• Several major institutional investors significantly increased their holdings in Palantir, with Kingstone Capital Partners investing nearly $2.54 billion in the company.
• Palantir reported a 48% year-over-year revenue growth in its last quarter, achieving $1 billion in revenue and surpassing analyst expectations.

McKinley Carter Wealth Services Inc. bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,717 shares of the company's stock, valued at approximately $234,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Kingstone Capital Partners Texas LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at approximately $2,543,888,000. Nuveen LLC purchased a new position in Palantir Technologies during the 1st quarter valued at approximately $520,232,000. Price T Rowe Associates Inc. MD grew its holdings in Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after buying an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Palantir Technologies by 38.5% during the 1st 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 in the last quarter. Finally, Amundi grew its holdings in Palantir Technologies by 56.1% during the 1st quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after buying an additional 3,815,386 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $175.44 on Friday. The stock has a market cap of $416.20 billion, a price-to-earnings ratio of 584.82, a price-to-earnings-growth ratio of 10.05 and a beta of 2.60. The stock has a 50 day moving average price of $171.32 and a 200-day moving average price of $139.72. 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 earnings results on Monday, August 4th. The company reported $0.16 EPS 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 firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same quarter in the previous year, the business earned $0.09 EPS. The company's quarterly 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. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PLTR shares. DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and raised their price target for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Mizuho set a $165.00 price target on Palantir Technologies in a report on Monday, September 15th. Weiss Ratings restated a "buy (b-)" rating on shares of Palantir Technologies in a report on Wednesday. Finally, Bank of America raised their price target on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average price target of $140.22.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at $106,261,243.20. The trade was a 34.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the sale, the insider directly owned 592 shares of the company's stock, valued at approximately $89,611.04. This trade represents a 99.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock worth $244,714,146 over the last quarter. 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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