Westwood Wealth Management Purchases 34,950 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Westwood Wealth Management significantly increased its stake in Palantir Technologies by 199.7% in the first quarter, now holding 52,450 shares valued at approximately $4.43 million.
• Palantir reported earnings of $0.16 per share for the most recent quarter, exceeding analyst expectations of $0.14, with revenue of $1 billion, reflecting a 48% increase compared to the previous year.
• Insider trading revealed that executives sold a total of 1.9 million shares valued at over $282 million in the last quarter, indicating a substantial reduction in their holdings.

Westwood Wealth Management lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 199.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,450 shares of the company's stock after buying an additional 34,950 shares during the quarter. Palantir Technologies comprises 1.9% of Westwood Wealth Management's holdings, making the stock its 11th biggest position. Westwood Wealth Management's holdings in Palantir Technologies were worth $4,427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies in the 4th quarter valued at about $450,000. Coppell Advisory Solutions LLC raised its position in shares of Palantir Technologies by 36.2% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,303 shares of the company's stock valued at $101,000 after buying an additional 346 shares in the last quarter. Syon Capital LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $407,000. Integrated Wealth Concepts LLC grew its position in Palantir Technologies by 3.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 140,785 shares of the company's stock worth $10,648,000 after buying an additional 4,231 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in Palantir Technologies by 5.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 104,775 shares of the company's stock valued at $7,924,000 after acquiring an additional 5,763 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent analyst reports. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. The Goldman Sachs Group upped their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Bank of America lifted their price target on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating 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 issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $136.61.

Insider Buying and Selling

In related news, insider David A. Glazer sold 8,047 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $1,253,320.25. Following the transaction, the insider directly owned 474,399 shares of the company's stock, valued at $73,887,644.25. The trade was a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 9,211 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total transaction of $1,434,613.25. Following the transaction, the insider owned 343,518 shares of the company's stock, valued at approximately $53,502,928.50. The trade was a 2.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,906,783 shares of company stock valued at $282,471,442. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Stock Up 1.6%

Shares of PLTR stock traded up $2.56 during mid-day trading on Friday, reaching $158.74. 101,782,072 shares of the stock traded hands, compared to its average volume of 79,335,152. The company has a market cap of $376.59 billion, a price-to-earnings ratio of 529.15, a price-to-earnings-growth ratio of 8.95 and a beta of 2.60. The stock's fifty day simple moving average is $153.61 and its two-hundred day simple moving average is $121.98. Palantir Technologies Inc. has a 1-year low of $29.31 and a 1-year high of $190.00.

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

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.