Palantir Technologies Inc. $PLTR Shares Acquired by Destiny Wealth Partners LLC

Key Points

• Destiny Wealth Partners LLC increased its stake in Palantir Technologies by 5.2% during Q2, owning 50,158 shares valued at approximately $6.84 million.
• Palantir Technologies reported Q2 earnings of $0.16 EPS, exceeding estimates and showing a 48% year-over-year revenue growth to $1 billion.
• Several hedge funds have adjusted their positions in Palantir, with institutional investors owning 45.65% of the company’s stock.

Destiny Wealth Partners LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,158 shares of the company's stock after acquiring an additional 2,493 shares during the quarter. Destiny Wealth Partners LLC's holdings in Palantir Technologies were worth $6,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PLTR. ST Germain D J Co. Inc. lifted its stake in Palantir Technologies by 17.3% during the second quarter. ST Germain D J Co. Inc. now owns 4,729 shares of the company's stock valued at $645,000 after purchasing an additional 699 shares during the last quarter. FCG Investment Co acquired a new stake in Palantir Technologies during the second quarter valued at approximately $1,302,000. Falcon Wealth Planning acquired a new stake in Palantir Technologies during the second quarter valued at approximately $219,000. Beaumont Financial Advisors LLC acquired a new stake in Palantir Technologies during the second quarter valued at approximately $356,000. Finally, Strategic Investment Solutions Inc. IL lifted its stake in Palantir Technologies by 239.7% during the second quarter. Strategic Investment Solutions Inc. IL now owns 10,798 shares of the company's stock valued at $1,472,000 after purchasing an additional 7,619 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Down 0.2%

PLTR stock opened at $179.12 on Friday. The company has a 50 day moving average of $165.68 and a two-hundred day moving average of $132.60. Palantir Technologies Inc. has a 12-month low of $36.05 and a 12-month high of $190.00. The company has a market cap of $424.93 billion, a price-to-earnings ratio of 597.09, a PEG ratio of 10.02 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released 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. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were 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 $973,650,893.46. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the firm'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 in the company, valued at $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,634,634 shares of company stock worth $250,524,804. Insiders own 9.23% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Cantor Fitzgerald increased their target price 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. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Mizuho set a $165.00 price target on shares of Palantir Technologies in a research report on Monday, September 15th. Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Loop Capital upped their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $140.22.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.