Montz Harcus Wealth Management LLC Buys New Stake in Palantir Technologies Inc. $PLTR

Key Points

• Montz Harcus Wealth Management LLC acquired a new stake in Palantir Technologies, buying 1,991 shares valued at approximately $271,000 during the second quarter.
• Insiders have recently sold significant amounts of Palantir stock, with Ryan D. Taylor selling 36,048 shares for over $5.7 million, resulting in a 10.49% decrease in their ownership.
• Analysts' ratings on Palantir stock vary, with a consensus rating of "Hold" and a price target of $140.22, while some firms like Morgan Stanley and Citigroup set higher targets at $155.00 and $177.00 respectively.

Montz Harcus Wealth Management LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,991 shares of the company's stock, valued at approximately $271,000.

Other large investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter valued at $2,543,888,000. Nuveen LLC acquired a new position in shares of Palantir Technologies during the 1st quarter valued at $520,232,000. Price T Rowe Associates Inc. MD increased its position in shares of 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 purchasing an additional 4,748,513 shares during the period. Goldman Sachs Group Inc. increased its position in shares of 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 purchasing an additional 4,221,392 shares during the period. Finally, Amundi increased its position in shares of 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 purchasing an additional 3,815,386 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on PLTR. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of Palantir Technologies in a research note on Saturday, September 27th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a research note on Tuesday, August 5th. Finally, Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $140.22.

Insider Activity

In related news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction 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 completion of the sale, the insider owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,000 shares of Palantir Technologies stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $177.60, for a total value of $1,598,400.00. Following the sale, the director directly owned 50,794 shares of the company's stock, valued at approximately $9,021,014.40. The trade was a 15.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 7.5%

Shares of Palantir Technologies stock opened at $173.07 on Friday. The stock has a market cap of $410.58 billion, a PE ratio of 576.92, a price-to-earnings-growth ratio of 10.44 and a beta of 2.60. The business has a fifty day simple moving average of $168.90 and a 200-day simple moving average of $136.63. Palantir Technologies Inc. has a 12 month low of $38.78 and a 12 month high of $190.00.

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

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.

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