Palantir Technologies Inc. $PLTR Position Boosted by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC significantly increased its holdings in Palantir Technologies by 402.6% in Q2, now owning 40,094 shares valued at approximately $5.47 million.
• Insider sales included 81,000 shares sold by David A. Glazer, resulting in a 15.82% decrease in his ownership, and a total of 1,591,085 shares sold by insiders in the past three months.
• Palantir Technologies reported $1 billion in revenue for the last quarter, surpassing expectations, with an earnings per share of $0.16, highlighting a 48% year-over-year revenue growth.

Simplicity Wealth LLC grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 402.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,094 shares of the company's stock after purchasing an additional 32,117 shares during the period. Simplicity Wealth LLC's holdings in Palantir Technologies were worth $5,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Truist Financial Corp boosted its holdings in shares of Palantir Technologies by 4.2% in the second quarter. Truist Financial Corp now owns 537,000 shares of the company's stock worth $73,204,000 after buying an additional 21,809 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Palantir Technologies by 10.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock worth $984,786,000 after buying an additional 1,135,841 shares during the period. New Century Financial Group LLC acquired a new position in shares of Palantir Technologies in the second quarter worth about $228,000. Synergy Asset Management LLC boosted its holdings in shares of Palantir Technologies by 37.1% in the second quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock worth $1,312,000 after buying an additional 2,606 shares during the period. Finally, Golden State Equity Partners boosted its holdings in shares of Palantir Technologies by 10.1% in the second quarter. Golden State Equity Partners now owns 18,361 shares of the company's stock worth $2,503,000 after buying an additional 1,677 shares during the period. Institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 81,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the sale, the insider owned 307,470 shares of the company's stock, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,591,085 shares of company stock valued at $244,676,722 in the last three months. Company insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLTR. Wall Street Zen cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Royal Bank Of Canada raised their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $140.22.

Palantir Technologies Trading Down 7.5%

Shares of Palantir Technologies stock opened at $173.07 on Friday. The firm has a fifty day simple moving average of $168.90 and a 200-day simple moving average of $136.98. Palantir Technologies Inc. has a 1-year low of $38.78 and a 1-year high of $190.00. The stock has a market capitalization of $410.58 billion, a price-to-earnings ratio of 576.92, a PEG ratio of 9.66 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping 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 business 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 revenue for the quarter 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. As a group, research analysts predict 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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