Free Trial

Assetmark Inc. Raises Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies logo with Computer and Technology background

Key Points

  • Assetmark Inc. significantly increased its holdings in Palantir Technologies by 775.0% during the first quarter, owning 10,421 shares valued at $880,000 after purchasing an additional 9,230 shares.
  • Palantir Technologies' stock recently fell 2.6% to $154.27, with a trading volume that surpassed its average, and it currently has a market capitalization of $364.06 billion.
  • Analyst ratings for Palantir Technologies remain mixed, with a consensus rating of "Hold" and several firms adjusting their price targets, including Goldman Sachs raising it from $80.00 to $90.00.
  • Five stocks we like better than Palantir Technologies.

Assetmark Inc. grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 775.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,421 shares of the company's stock after buying an additional 9,230 shares during the quarter. Assetmark Inc.'s holdings in Palantir Technologies were worth $880,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PLTR. Revolve Wealth Partners LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $450,000. Franklin Resources Inc. grew its stake in shares of Palantir Technologies by 402.9% during the fourth quarter. Franklin Resources Inc. now owns 863,257 shares of the company's stock valued at $65,288,000 after buying an additional 691,604 shares during the last quarter. Groupama Asset Managment bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $2,147,000. Huntington National Bank grew its stake in Palantir Technologies by 62.4% in the fourth quarter. Huntington National Bank now owns 14,242 shares of the company's stock worth $1,077,000 after purchasing an additional 5,472 shares in the last quarter. Finally, Nicolet Advisory Services LLC increased its holdings in Palantir Technologies by 29.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 12,648 shares of the company's stock worth $957,000 after purchasing an additional 2,915 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Down 2.6%

Shares of NASDAQ:PLTR traded down $4.08 during trading on Friday, hitting $154.27. The stock had a trading volume of 60,986,881 shares, compared to its average volume of 52,655,748. The stock has a 50-day simple moving average of $140.37 and a two-hundred day simple moving average of $111.96. The stock has a market capitalization of $364.06 billion, a price-to-earnings ratio of 670.74, a price-to-earnings-growth ratio of 13.50 and a beta of 2.60. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.89.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director directly owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the transaction, the director directly owned 2,348 shares of the company's stock, valued at $307,470.60. The trade was a 81.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 in the last three months. Company insiders own 9.23% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on PLTR shares. The Goldman Sachs Group raised their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Cantor Fitzgerald upped their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $96.45.

Get Our Latest Stock Report on PLTR

About Palantir Technologies

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

Should You Invest $1,000 in Palantir Technologies Right Now?

Before you consider Palantir Technologies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palantir Technologies wasn't on the list.

While Palantir Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 AI Stocks to Invest in Today: Capitalizing on AI and Tech Trends in 2025 Cover

Discover the top 7 AI stocks to invest in right now. This exclusive report highlights the companies leading the AI revolution and shaping the future of technology in 2025.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Palantir at All-Time Highs: Take Profits or Hold the Line?
Top 3 Defense Stocks to Profit From $175 Billion Golden Dome
Palantir’s Big Moves: Profit-Taking, Price Targets & AI Potential

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines