Palantir Technologies Inc. $PLTR Shares Purchased by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its stake in Palantir Technologies by 2.2%, holding 121,674 shares valued at $16.6 million.
• Palantir Technologies reported earnings of $0.16 per share for the latest quarter, surpassing estimates and experiencing a 48% year-over-year revenue growth.
• Multiple analysts have raised their price targets for Palantir, with projections ranging from $45.00 to $200.00, while the average target stands at $141.28.

Carnegie Investment Counsel lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,674 shares of the company's stock after acquiring an additional 2,630 shares during the period. Carnegie Investment Counsel's holdings in Palantir Technologies were worth $16,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Truist Financial Corp increased its position 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 acquiring an additional 21,809 shares during the period. Presilium Private Wealth LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at $204,000. New Century Financial Group LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Palantir Technologies by 10.8% in the 1st 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. Finally, Synergy Asset Management LLC increased its position in shares of Palantir Technologies by 37.1% in the 2nd quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock valued at $1,312,000 after acquiring an additional 2,606 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. Royal Bank Of Canada increased their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald increased their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research report 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 research report on Tuesday, August 5th. Finally, Loop Capital increased their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $141.28.

Palantir Technologies Stock Up 2.8%

PLTR stock opened at $180.48 on Friday. The firm has a market cap of $428.16 billion, a P/E ratio of 601.62, a PEG ratio of 9.51 and a beta of 2.60. Palantir Technologies Inc. has a 52-week low of $40.90 and a 52-week high of $190.00. The company's 50-day simple moving average is $171.20 and its 200-day simple moving average is $145.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same period last year, the company posted $0.09 EPS. Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider directly owned 307,470 shares of the company's stock, 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 Alexander C. Karp sold 222,878 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,557,750 shares of company stock worth $239,713,896. 9.23% of the stock is currently owned by 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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