Palantir Technologies Inc. $PLTR Shares Bought by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its shareholding in Palantir Technologies by 55.9%, now owning 32,747 shares valued at approximately $4.46 million.
• Palantir reported a strong quarterly performance, with earnings per share of $0.16 and revenues hitting $1 billion, surpassing analysts' expectations.
• Insider trades have been significant, with key executives selling over 1.5 million shares in the last 90 days, raising concerns about future ownership and company confidence.

Ritholtz Wealth Management raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 55.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,747 shares of the company's stock after buying an additional 11,748 shares during the period. Ritholtz Wealth Management's holdings in Palantir Technologies were worth $4,464,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Revolve Wealth Partners LLC acquired a new position in Palantir Technologies during the 4th quarter worth about $450,000. Bison Wealth LLC increased its stake in Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after purchasing an additional 4,667 shares during the period. GAMMA Investing LLC lifted its position in shares of Palantir Technologies by 76.4% during the first quarter. GAMMA Investing LLC now owns 22,653 shares of the company's stock worth $1,912,000 after purchasing an additional 9,810 shares in the last quarter. CX Institutional acquired a new stake in shares of Palantir Technologies during the first quarter worth about $62,000. Finally, Acropolis Investment Management LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at approximately $190,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PLTR shares. Loop Capital increased their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Royal Bank Of Canada boosted their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a research report on Wednesday, October 8th. Five 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. According to MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average price target of $141.28.

Palantir Technologies Stock Performance

PLTR opened at $179.74 on Wednesday. Palantir Technologies Inc. has a one year low of $40.36 and a one year high of $190.00. The company has a market cap of $426.40 billion, a P/E ratio of 599.15, a PEG ratio of 9.61 and a beta of 2.60. The business's 50-day simple moving average is $171.78 and its 200-day simple moving average is $141.31.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly 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 the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,557,750 shares of company stock worth $239,713,896. 12.93% of the stock is currently owned by company insiders.

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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