Palantir Technologies Inc. $PLTR Position Boosted by Washington Growth Strategies LLC

Key Points

• Washington Growth Strategies LLC significantly increased its stake in Palantir Technologies by 3,171.4% during the second quarter, owning 2,748 shares valued at approximately $375,000.
• Palantir's quarterly earnings report revealed a profit of $1 billion in revenue and an EPS of $0.16, surpassing analyst projections.
• Insiders at Palantir sold over 1.5 million shares valued at approximately $244 million recently, raising concerns about their confidence in the stock's performance.

Washington Growth Strategies LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3,171.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,748 shares of the company's stock after purchasing an additional 2,664 shares during the period. Washington Growth Strategies LLC's holdings in Palantir Technologies were worth $375,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mechanics Financial Corp bought a new position in Palantir Technologies in the first quarter worth about $25,000. Signature Resources Capital Management LLC bought a new position in Palantir Technologies in the second quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies in the first quarter worth about $27,000. 1248 Management LLC bought a new position in Palantir Technologies in the first quarter worth about $27,000. Finally, Family Legacy Financial Solutions LLC bought a new position in Palantir Technologies in the second quarter worth about $31,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $173.07 on Friday. Palantir Technologies Inc. has a 12 month low of $38.78 and a 12 month high of $190.00. The firm has a market capitalization of $410.58 billion, a PE ratio of 576.92, a P/E/G ratio of 10.44 and a beta of 2.60. The company's 50 day simple moving average is $168.90 and its 200 day simple moving average is $136.63.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS 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 business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the business earned $0.09 earnings per share. The business'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. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent research reports. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a report on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and set a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a report on Saturday, September 27th. Finally, Royal Bank Of Canada lifted their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $140.22.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 222,878 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 375,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at approximately $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 ninety days, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. 9.23% of the stock is currently owned by company insiders.

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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