Palantir Technologies Inc. $PLTR Shares Acquired by Financial Connections Group Inc.

Key Points

• Financial Connections Group Inc. increased its position in Palantir Technologies by 818.5% during the second quarter, acquiring a total of 10,471 shares valued at approximately $1.4 million.
• Palantir's recent earnings report showed an EPS of $0.16, exceeding analyst expectations, while the company also reported revenue growth of 48% year-over-year.
• Wall Street analysts have varied target prices for Palantir's stock, with Goldman Sachs adjusting its target to $141.00 and Wedbush setting a higher target of $200.00, indicating a mix of ratings from buy to hold.

Financial Connections Group Inc. grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 818.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,471 shares of the company's stock after buying an additional 9,331 shares during the quarter. Financial Connections Group Inc.'s holdings in Palantir Technologies were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Signature Resources Capital Management LLC acquired a new position in Palantir Technologies during the 2nd quarter worth $25,000. Family Legacy Financial Solutions LLC acquired a new position in Palantir Technologies during the 2nd quarter worth $31,000. Adirondack Trust Co. grew its stake in Palantir Technologies by 185.0% during the 2nd quarter. Adirondack Trust Co. now owns 285 shares of the company's stock worth $39,000 after purchasing an additional 185 shares in the last quarter. Mechanics Financial Corp acquired a new position in Palantir Technologies during the 1st quarter worth $25,000. Finally, JNBA Financial Advisors grew its stake in Palantir Technologies by 200.0% during the 2nd quarter. JNBA Financial Advisors now owns 300 shares of the company's stock worth $41,000 after purchasing an additional 200 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $175.44 on Friday. The company has a market capitalization of $416.20 billion, a price-to-earnings ratio of 584.82, a price-to-earnings-growth ratio of 10.05 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $40.36 and a 1 year high of $190.00. The business has a 50-day moving average of $171.32 and a two-hundred day moving average of $139.72.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business's revenue was up 48.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Wedbush set a $200.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Mizuho set a $165.00 price target on Palantir Technologies in a report on Monday, September 15th. Finally, Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $140.22.

Insider Transactions at Palantir Technologies

In related news, insider Jeffrey Buckley sold 2,803 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares of the company's stock, valued at $8,000,877. This represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,591,085 shares of company stock worth $244,714,146. Insiders own 9.23% of the company's stock.

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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