Palantir Technologies Inc. $PLTR Shares Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC increased its holdings in Palantir Technologies by 21.7% during Q2, owning 16,260 shares worth $2.2 million by the end of the reporting period.
• Palantir Technologies reported $1 billion in revenue for the last quarter, exceeding expectations, and showed a substantial year-over-year growth of 48%.
• Insiders, including David A. Glazer, sold significant amounts of shares recently, with over 1.5 million shares valued at $244 million sold in the last quarter.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 21.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,260 shares of the company's stock after purchasing an additional 2,898 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Palantir Technologies were worth $2,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PLTR. Seros Financial LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth $206,000. Yeomans Consulting Group Inc. acquired a new stake in Palantir Technologies during the 2nd quarter worth $670,000. Synergy Asset Management LLC raised its stake in Palantir Technologies by 37.1% during the 2nd quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock worth $1,312,000 after acquiring an additional 2,606 shares in the last quarter. Mattern Capital Management LLC raised its stake in Palantir Technologies by 5.7% during the 2nd quarter. Mattern Capital Management LLC now owns 4,810 shares of the company's stock worth $656,000 after acquiring an additional 260 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth $236,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLTR. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Loop Capital lifted their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and set a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Palantir Technologies in a research report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $140.22.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $173.07 on Friday. Palantir Technologies Inc. has a 1 year low of $38.78 and a 1 year high of $190.00. The company has a market capitalization of $410.58 billion, a P/E ratio of 576.92, a PEG ratio of 10.44 and a beta of 2.60. The company's fifty day moving average is $168.90 and its two-hundred day moving average is $136.63.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate 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%. The business's quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction dated 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 sale, the insider owned 431,169 shares of the company's stock, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the sale, the insider directly owned 702,786 shares in the company, valued at approximately $112,129,506.30. The trade was a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. Corporate insiders own 9.23% of the company's stock.

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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