Monterey Private Wealth Inc. Makes New $227,000 Investment in Palantir Technologies Inc. $PLTR

Key Points

• Monterey Private Wealth Inc. has invested $227,000 in Palantir Technologies, acquiring 2,692 shares in the first quarter.
• Palantir reported earnings of $0.16 per share, exceeding analysts' expectations, with a revenue of $1 billion for the quarter, reflecting a 48% year-over-year increase.
• Wall Street analysts have mixed ratings on Palantir, with several raising their price targets, but the stock average rating remains at "Hold" with a target of $136.61.

Monterey Private Wealth Inc. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,692 shares of the company's stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies in the first quarter valued at about $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $27,000. Cornerstone Planning Group LLC lifted its stake in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after buying an additional 185 shares during the period. Richardson Capital Management LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $33,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 2.6%

PLTR opened at $156.72 on Thursday. The company has a fifty day simple moving average of $154.71 and a 200 day simple moving average of $122.81. The firm has a market cap of $371.79 billion, a price-to-earnings ratio of 522.42, a PEG ratio of 9.07 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business's revenue was up 48.0% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the transaction, the insider directly owned 363,755 shares in the company, valued at $49,219,689.05. This represents a 8.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,906,783 shares of company stock valued at $282,471,442. 9.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price objective for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Citigroup reaffirmed a "neutral" rating and set a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $136.61.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.