Palantir Technologies Inc. $PLTR Shares Bought by Synergy Asset Management LLC

Key Points

• Synergy Asset Management LLC increased its stake in Palantir Technologies by 37.1%, owning 9,623 shares valued at approximately $1.31 million.
• Palantir's stock price opened at $187.05, with a 12-month trading range of $37.37 to $190.00.
• Palantir reported a quarterly revenue of $1 billion, exceeding estimates and marking a 48% increase year-over-year.

Synergy Asset Management LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 37.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,623 shares of the company's stock after purchasing an additional 2,606 shares during the period. Synergy Asset Management LLC's holdings in Palantir Technologies were worth $1,312,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Northern Trust Corp boosted its stake in shares of Palantir Technologies by 0.3% during the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Palantir Technologies during the second quarter valued at $2,543,888,000. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after acquiring an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after acquiring an additional 4,221,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after acquiring an additional 571,544 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $187.05 on Friday. The stock's 50-day moving average is $168.62 and its 200-day moving average is $136.02. The company has a market cap of $443.75 billion, a price-to-earnings ratio of 623.52, a price-to-earnings-growth ratio of 10.32 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $37.37 and a 12 month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion for 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 company's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the 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 completion of the sale, the insider owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,591,085 shares of company stock worth $244,676,722. Corporate insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PLTR shares. DA Davidson set a $170.00 price objective on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Bank of America increased their price objective on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Piper Sandler set a $182.00 target price on Palantir Technologies in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and increased their target price for the stock from $80.00 to $160.00 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. Based on data from MarketBeat, Palantir Technologies presently has an average 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.

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