Palantir Technologies Inc. $PLTR Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its holdings in Palantir Technologies by 16.2%, acquiring 14,432 shares in Q2, bringing its total to 103,404 shares valued at approximately $13.5 million.
• Multiple institutional investors have raised their positions in Palantir, with Goldman Sachs growing its stake by 38.5%, now owning over 15 million shares valued at about $1.3 billion.
• Analysts have varied ratings on Palantir, with an average target price of $141.28, including a recent price target increase by Goldman Sachs from $90.00 to $141.00.

Ethic Inc. raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 103,404 shares of the company's stock after acquiring an additional 14,432 shares during the period. Ethic Inc.'s holdings in Palantir Technologies were worth $13,519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLTR. Northern Trust Corp grew its holdings in Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after purchasing an additional 64,973 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth $2,543,888,000. Invesco Ltd. raised its position in shares of Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after buying an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. grew its position in 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 period. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 worth $1,149,055,000 after acquiring an additional 571,544 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PLTR. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Loop Capital increased their target price on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $141.28.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the business'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 $29,020,656.40. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at $89,611.04. This represents a 99.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the sale, the insider owned 307,470 shares in the company, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,750 shares of company stock valued at $239,713,896 over the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 1.1%

PLTR stock opened at $179.51 on Wednesday. The firm has a 50 day simple moving average of $171.39 and a 200-day simple moving average of $144.68. The company has a market capitalization of $425.85 billion, a P/E ratio of 599.65, a PEG ratio of 9.84 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $40.90 and a twelve month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued 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 business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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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