Palantir Technologies Inc. $PLTR Holdings Raised by Westend Capital Management LLC

Key Points

• Westend Capital Management LLC significantly increased its stake in Palantir Technologies by 16,116.0% in Q2, now holding over 102,000 shares worth approximately $13.99 million.
• Multiple hedge funds, including Kingstone Capital Partners and Nuveen LLC, have also made significant investments in Palantir, indicating growing institutional interest in the stock.
• Palantir reported Q2 earnings of $0.16 per share, exceeding expectations, and highlighted a 48% year-over-year revenue increase, with total revenue reaching $1 billion.

Westend Capital Management LLC grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16,116.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,647 shares of the company's stock after purchasing an additional 102,014 shares during the period. Palantir Technologies comprises approximately 4.3% of Westend Capital Management LLC's holdings, making the stock its 9th largest holding. Westend Capital Management LLC's holdings in Palantir Technologies were worth $13,993,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. Revolve Wealth Partners LLC purchased a new stake in Palantir Technologies in the fourth quarter worth $450,000. Bison Wealth LLC increased its stake in shares of Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after buying an additional 4,667 shares during the period. Two Sigma Investments LP increased its stake in shares of Palantir Technologies by 132.4% during the fourth quarter. Two Sigma Investments LP now owns 55,083 shares of the company's stock valued at $4,166,000 after buying an additional 31,383 shares during the period. North Star Asset Management Inc. increased its stake in shares of Palantir Technologies by 33.3% during the fourth quarter. North Star Asset Management Inc. now owns 8,229 shares of the company's stock valued at $622,000 after buying an additional 2,054 shares during the period. Finally, Formidable Asset Management LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at $457,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 191,720 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider directly owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,625,634 shares of company stock valued at $248,926,404 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Down 1.7%

Shares of NASDAQ:PLTR traded down $3.06 during trading on Monday, hitting $179.33. The stock had a trading volume of 45,749,266 shares, compared to its average volume of 60,825,608. The stock has a 50-day simple moving average of $163.92 and a two-hundred day simple moving average of $131.20. The stock has a market capitalization of $425.43 billion, a price-to-earnings ratio of 597.79, a price-to-earnings-growth ratio of 10.28 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $36.05 and a 12-month high of $190.00.

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

Analyst Ratings Changes

Several equities analysts have recently commented on PLTR shares. Piper Sandler set a $182.00 price target on Palantir Technologies in a research note on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and raised their price objective for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $138.28.

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.