Narus Financial Partners LLC Purchases New Stake in Palantir Technologies Inc. $PLTR

Key Points

• Narus Financial Partners LLC acquired a new stake in Palantir Technologies, purchasing 1,993 shares valued at approximately $272,000 during the second quarter.
• Institutional investors now own 45.65% of Palantir's stock, with several firms increasing their positions significantly during the fourth quarter.
• Palantir Technologies recently reported $1 billion in revenue for the quarter, exceeding analyst expectations of $939.29 million, and indicated a 48% year-over-year revenue growth.

Narus Financial Partners LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,993 shares of the company's stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC bought a new position in Palantir Technologies during the fourth quarter worth about $450,000. Bison Wealth LLC boosted its holdings in Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after buying an additional 4,667 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Palantir Technologies by 132.4% during the fourth quarter. Two Sigma Investments LP now owns 55,083 shares of the company's stock worth $4,166,000 after buying an additional 31,383 shares during the last quarter. North Star Asset Management Inc. boosted its holdings in Palantir Technologies by 33.3% during the fourth quarter. North Star Asset Management Inc. now owns 8,229 shares of the company's stock worth $622,000 after buying an additional 2,054 shares during the last quarter. Finally, Formidable Asset Management LLC bought a new position in Palantir Technologies during the fourth quarter worth about $457,000. Institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares of the company's stock, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 375,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at $106,261,243.20. This trade represents a 34.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,625,634 shares of company stock worth $248,926,404. Company insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLTR. Mizuho set a $165.00 target price on Palantir Technologies in a report on Monday, September 15th. Piper Sandler set a $182.00 price target on Palantir Technologies in a research report on Tuesday, August 5th. Cantor Fitzgerald raised their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $138.28.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $182.39 on Monday. Palantir Technologies Inc. has a 52 week low of $35.71 and a 52 week high of $190.00. The stock has a market capitalization of $432.69 billion, a P/E ratio of 607.99, a price-to-earnings-growth ratio of 10.28 and a beta of 2.59. The stock has a fifty day moving average of $163.32 and a 200-day moving average of $130.54.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly 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 company 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 firm earned $0.09 EPS. Palantir Technologies's 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. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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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