GAMMA Investing LLC Boosts Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• GAMMA Investing LLC increased its position in Palantir Technologies by 34.2% to own a total of 30,410 shares, valued at approximately $4.1 million.
• Several institutional investors, including Price T Rowe Associates and Goldman Sachs, significantly raised their stakes in Palantir during the first quarter, indicating strong interest in the company.
• Palantir's stock has received mixed ratings from analysts, with a current consensus rating of "Hold" and an average target price of $138.28, following recent upgrades from various firms.

GAMMA Investing LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 34.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,410 shares of the company's stock after buying an additional 7,757 shares during the period. GAMMA Investing LLC's holdings in Palantir Technologies were worth $4,145,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Mechanics Financial Corp purchased a new stake in Palantir Technologies in the 1st quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new position in Palantir Technologies in the first quarter valued at $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies during the first quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new stake in Palantir Technologies during the 2nd quarter valued at about $31,000. Finally, Richardson Capital Management LLC acquired a new position in Palantir Technologies in the 1st quarter valued at about $33,000. Institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Bank of America increased their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Mizuho set a $165.00 price objective on shares of Palantir Technologies in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $138.28.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. This trade represents a 3.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 1,625,634 shares of company stock valued at $248,926,404 over the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR traded down $3.06 during trading hours on Monday, reaching $179.33. 45,749,266 shares of the company's stock were exchanged, compared to its average volume of 60,825,608. Palantir Technologies Inc. has a one year low of $36.05 and a one year high of $190.00. The company's 50-day moving average is $163.92 and its two-hundred day moving average is $131.20. The company has a market capitalization of $425.43 billion, a price-to-earnings ratio of 597.79, a price-to-earnings-growth ratio of 10.28 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS 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 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 business posted $0.09 earnings per share. The company's revenue for the quarter 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. Research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.