Napa Wealth Management Buys 3,748 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Napa Wealth Management increased its stock position in Palantir Technologies by 93.8%, owning 7,743 shares valued at $654,000 as of the latest reporting period.
• Several institutional investors have also recently acquired shares of Palantir, resulting in a total of 45.65% of the company's stock being owned by such entities.
• Recent analyst ratings upgraded Palantir Technologies, with Mizuho raising its target price to $135.00 and UBS increasing theirs to $165.00, indicating a positive outlook for the stock.

Napa Wealth Management raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 93.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,743 shares of the company's stock after purchasing an additional 3,748 shares during the quarter. Napa Wealth Management's holdings in Palantir Technologies were worth $654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mechanics Financial Corp bought a new stake in Palantir Technologies during the 1st quarter valued at $25,000. Cornerstone Planning Group LLC raised its holdings in shares of Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter worth about $33,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares during the last quarter. Finally, Capital Analysts LLC raised its holdings in shares of Palantir Technologies by 97.1% in the 1st quarter. Capital Analysts LLC now owns 406 shares of the company's stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 160,164 shares of Palantir Technologies stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $24,945,543.00. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at approximately $92,204. This trade represents a 99.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,906,783 shares of company stock worth $282,471,442. 12.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLTR. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their target price for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Bank of America upped their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded up $2.56 during mid-day trading on Friday, reaching $158.74. 101,782,072 shares of the company's stock were exchanged, compared to its average volume of 79,335,152. The firm has a market capitalization of $376.59 billion, a price-to-earnings ratio of 529.15, a price-to-earnings-growth ratio of 8.95 and a beta of 2.60. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00. The firm has a 50-day moving average price of $153.61 and a two-hundred day moving average price of $121.98.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released 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. The company had revenue of $1 billion for 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%.The business's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.