Palantir Technologies Inc. $PLTR Shares Bought by Clarity Wealth Advisors LLC

Key Points

• Clarity Wealth Advisors raised its Palantir stake by 47.6% in Q2, buying 2,058 shares to own 6,378 shares valued at about $869,000, while institutions (including UBS Asset Management) own roughly 45.65% of the stock.
• Insiders sold heavily: CEO Alexander C. Karp sold 222,878 shares and Stephen A. Cohen sold 191,720 shares on Aug. 20 (at $151.37), and insiders have offloaded 1,527,750 shares worth $234.46M over the past three months, leaving insiders with 12.93% ownership.
• Palantir beat quarterly estimates with EPS $0.21 vs. $0.17 and revenue $1.18B vs. $1.09B (revenue +62.8% YoY); shares traded up about 8.8% to $193.61 amid analyst price-target increases, though the consensus rating remains "Hold" with an average target of $173.45.

Clarity Wealth Advisors LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 47.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,378 shares of the company's stock after buying an additional 2,058 shares during the quarter. Clarity Wealth Advisors LLC's holdings in Palantir Technologies were worth $869,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of Palantir Technologies by 4.2% in the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company's stock valued at $73,204,000 after purchasing an additional 21,809 shares during the last quarter. State of Michigan Retirement System increased its position in Palantir Technologies by 1.3% during the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company's stock worth $127,923,000 after buying an additional 12,300 shares during the period. Presilium Private Wealth LLC acquired a new position in Palantir Technologies during the second quarter worth approximately $204,000. New Century Financial Group LLC purchased a new stake in Palantir Technologies in the second quarter valued at approximately $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Palantir Technologies by 10.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock valued at $984,786,000 after acquiring an additional 1,135,841 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the company's stock in a transaction dated 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 directly owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies 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 $29,020,656.40. Following the sale, the insider owned 592 shares of the company's stock, valued at approximately $89,611.04. The trade was a 99.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,527,750 shares of company stock worth $234,463,896. Insiders own 12.93% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group lifted their target price on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, November 4th. Bank of America raised their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, November 4th. Citigroup lifted their price objective on shares of Palantir Technologies from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday, November 5th. Northland Securities upped their target price on shares of Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $173.45.

Palantir Technologies Trading Up 8.8%

Shares of PLTR stock opened at $193.61 on Tuesday. The stock has a 50 day simple moving average of $178.47 and a 200-day simple moving average of $155.08. The company has a market cap of $459.31 billion, a price-to-earnings ratio of 460.99, a price-to-earnings-growth ratio of 6.90 and a beta of 2.63. Palantir Technologies Inc. has a 12-month low of $58.53 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.04. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.Palantir Technologies's quarterly revenue was up 62.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.

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