Golden State Equity Partners Has $2.50 Million Stake in Palantir Technologies Inc. $PLTR

Key Points

• Golden State Equity Partners increased its holdings in Palantir Technologies by 10.1%, owning 18,361 shares valued at $2,503,000 at the end of the second quarter.
• Insider David A. Glazer sold 81,000 shares valued at over $12 million, decreasing his ownership by 15.82%.
• Wall Street analysts have mixed ratings for Palantir, with four ratings as "Buy" and sixteen as "Hold," and an average price target of $138.28.

Golden State Equity Partners lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,361 shares of the company's stock after acquiring an additional 1,677 shares during the period. Golden State Equity Partners' holdings in Palantir Technologies were worth $2,503,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PLTR. Family Legacy Financial Solutions LLC bought a new stake in Palantir Technologies during the 2nd quarter worth approximately $31,000. Adirondack Trust Co. increased its stake in Palantir Technologies by 185.0% during the 2nd quarter. Adirondack Trust Co. now owns 285 shares of the company's stock worth $39,000 after purchasing an additional 185 shares in the last quarter. Mechanics Financial Corp bought a new stake in Palantir Technologies during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies during the 1st quarter worth approximately $27,000. Finally, 1248 Management LLC bought a new stake in Palantir Technologies during the 1st quarter worth approximately $27,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 1.7%

Shares of PLTR traded down $3.06 during midday trading on Monday, reaching $179.33. 45,749,266 shares of the stock were exchanged, compared to its average volume of 60,825,608. Palantir Technologies Inc. has a twelve month low of $36.05 and a twelve month high of $190.00. The company has a market cap of $425.43 billion, a P/E ratio of 597.79, a PEG ratio of 10.28 and a beta of 2.59. The stock's 50 day simple moving average is $163.92 and its 200 day simple moving average is $131.20.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same quarter last year, the firm earned $0.09 earnings per share. The company's revenue was up 48.0% on a year-over-year basis. 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 year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Bank of America raised their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, UBS Group reissued a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $138.28.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 21,000 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $165.95, for a total value of $3,484,950.00. Following the completion of the transaction, the director owned 59,794 shares of the company's stock, valued at $9,922,814.30. The trade was a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,625,634 shares of company stock valued at $248,926,404. 12.93% of the stock is currently owned by insiders.

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.