Wedmont Private Capital Has $6.19 Million Position in Palantir Technologies Inc. $PLTR

Key Points

• Wedmont Private Capital increased its stake in Palantir Technologies by 4.3% during the second quarter, bringing its total holdings to valued at approximately $6.19 million.
• Palantir Technologies reported a 48% year-over-year revenue growth of $1 billion and earnings per share (EPS) of $0.16, surpassing expectations by $0.02.
• The stock has faced mixed ratings from analysts, with a consensus rating of "Hold" and a target price averaging around $138.28.

Wedmont Private Capital raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,272 shares of the company's stock after acquiring an additional 1,792 shares during the period. Wedmont Private Capital's holdings in Palantir Technologies were worth $6,194,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at about $450,000. Bison Wealth LLC boosted its position in shares of Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after buying an additional 4,667 shares during the period. Teza Capital Management LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $274,000. Two Sigma Advisers LP purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $11,655,000. Finally, Two Sigma Investments LP boosted its position in shares of Palantir Technologies by 132.4% in the fourth quarter. Two Sigma Investments LP now owns 55,083 shares of the company's stock worth $4,166,000 after buying an additional 31,383 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 375,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This represents a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,625,634 shares of company stock worth $248,926,404 in the last quarter. Company insiders own 9.23% of the company's stock.

Analyst Ratings Changes

PLTR has been the subject of several analyst reports. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and issued a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Loop Capital boosted their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $138.28.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $5.42 on Friday, reaching $182.39. 108,970,930 shares of the company were exchanged, compared to its average volume of 89,217,039. The company's 50-day moving average is $162.51 and its two-hundred day moving average is $129.24. The firm has a market cap of $432.69 billion, a price-to-earnings ratio of 607.99, a P/E/G ratio of 9.49 and a beta of 2.59. Palantir Technologies Inc. has a 1-year low of $35.71 and a 1-year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) 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 business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the prior year, the company posted $0.09 EPS. The business's revenue for the quarter 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. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies 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.