Meritage Portfolio Management Makes New Investment in Palantir Technologies Inc. $PLTR

Key Points

• Meritage Portfolio Management has purchased 1,930 shares of Palantir Technologies Inc. (NASDAQ:PLTR) during Q2, valued at approximately $263,000.
• Multiple hedge funds have increased their stakes in Palantir, with 45.65% of the stock now held by institutional investors and hedge funds.
• Palantir Technologies reported quarterly earnings exceeding expectations, with $0.16 EPS, and a revenue of $1 billion, marking a 48% increase year-over-year.

Meritage Portfolio Management bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,930 shares of the company's stock, valued at approximately $263,000.

Other hedge funds have also recently bought and sold shares of the company. Ignite Planners LLC boosted its holdings in Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock valued at $2,094,000 after acquiring an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. boosted its holdings in Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after acquiring an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. boosted its holdings in Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after acquiring an additional 73 shares during the period. Boomfish Wealth Group LLC boosted its holdings in Palantir Technologies by 2.7% during the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock valued at $379,000 after acquiring an additional 73 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Palantir Technologies by 3.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock valued at $329,000 after acquiring an additional 80 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLTR. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a report on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price target for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Loop Capital increased their target price 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, Weiss Ratings reiterated a "buy (b-)" rating on shares of Palantir Technologies in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $140.22.

Palantir Technologies Stock Up 1.0%

NASDAQ:PLTR opened at $177.21 on Tuesday. Palantir Technologies Inc. has a 12-month low of $40.36 and a 12-month high of $190.00. The firm has a market capitalization of $420.40 billion, a PE ratio of 590.72, a price-to-earnings-growth ratio of 9.51 and a beta of 2.60. The firm has a 50-day moving average price of $171.65 and a 200 day moving average price of $141.04.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results 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 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 quarter in the prior year, the business posted $0.09 earnings per share. The company's quarterly 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. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 375,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,557,750 shares of company stock valued at $239,713,896. Corporate insiders own 12.93% of the company's stock.

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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