Next Level Wealth Planning LLC Raises Stake in Palantir Technologies Inc. $PLTR

Key Points

• Next Level Wealth Planning LLC increased its stake in Palantir Technologies by 31.5% in the second quarter, holding 7,752 shares valued at $1,057,000, making it the fund's 13th largest position.
• Several other institutional investors also boosted their investments in Palantir, with Northern Trust Corp owning over $1.65 billion worth of shares and Goldman Sachs increasing its stake by 38.5% during the first quarter.
• Palantir Technologies' stock has recently dropped by 7.5%, despite reporting quarterly earnings that surpassed estimates, with revenue growth of 48% compared to the same period last year.

Next Level Wealth Planning LLC lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,752 shares of the company's stock after purchasing an additional 1,855 shares during the quarter. Palantir Technologies comprises about 0.7% of Next Level Wealth Planning LLC's investment portfolio, making the stock its 13th biggest position. Next Level Wealth Planning LLC's holdings in Palantir Technologies were worth $1,057,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Northern Trust Corp grew its stake in Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after purchasing an additional 64,973 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Palantir Technologies during the 2nd quarter valued at approximately $2,543,888,000. Invesco Ltd. grew its position in shares of Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after acquiring an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Palantir Technologies by 38.5% in the first 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, Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after acquiring an additional 571,544 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the sale, the insider directly owned 592 shares of the company's stock, valued at approximately $89,611.04. The trade was a 99.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider directly owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,591,085 shares of company stock valued at $244,676,722. Company insiders own 12.93% of the company's stock.

Palantir Technologies Stock Down 7.5%

Shares of PLTR stock opened at $173.07 on Monday. The firm has a market cap of $410.58 billion, a price-to-earnings ratio of 576.92, a PEG ratio of 9.66 and a beta of 2.60. The stock has a 50-day moving average price of $168.90 and a 200 day moving average price of $137.33. 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 announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion for 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%. Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PLTR shares. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Bank of America lifted their price objective on Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Mizuho set a $165.00 price target on shares of Palantir Technologies in a research report on Monday, September 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $140.22.

Palantir Technologies 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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