Palantir Technologies Inc. $PLTR Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Palantir Technologies by 47.8%, owning almost 6 million shares valued at over $503 million as of the latest SEC filing.
• Palantir Technologies reported $1 billion in revenue for the last quarter, exceeding analyst expectations and achieving a 48% year-over-year revenue growth.
• Insider selling included a significant transaction where Stephen Andrew Cohen sold 309,696 shares for approximately $39 million, representing a near-total decrease of his ownership in the company.

Raymond James Financial Inc. increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 47.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,965,126 shares of the company's stock after acquiring an additional 1,928,342 shares during the period. Raymond James Financial Inc. owned approximately 0.25% of Palantir Technologies worth $503,457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Mechanics Financial Corp purchased a new position in Palantir Technologies in the 1st quarter valued at about $25,000. Richardson Capital Management LLC purchased a new position in Palantir Technologies in the 1st quarter worth approximately $33,000. Cornerstone Planning Group LLC lifted its stake in 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 purchasing an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in 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 purchasing an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. lifted its stake in Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after purchasing an additional 370 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the sale, the director directly owned 2,348 shares of the company's stock, valued at approximately $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 39,825 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the sale, the insider directly owned 6,432,258 shares of the company's stock, valued at $810,271,540.26. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 628,140 shares of company stock valued at $84,302,509. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Down 9.4%

PLTR traded down $16.28 on Tuesday, reaching $157.75. The company had a trading volume of 133,637,186 shares, compared to its average volume of 91,275,836. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year high of $190.00. The stock has a market capitalization of $374.24 billion, a PE ratio of 525.85, a P/E/G ratio of 9.99 and a beta of 2.60. The stock has a 50-day moving average price of $151.87 and a 200-day moving average price of $120.39.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Loop Capital lifted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and issued a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Bank of America lifted their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $136.61.

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.