Palantir Technologies Inc. $PLTR Stock Holdings Increased by Modern Wealth Management LLC

Key Points

• Modern Wealth Management LLC increased its stake in Palantir Technologies by 141.1%, now holding 18,114 shares valued at approximately $1.53 million.
• Palantir's stock has received several rating upgrades; Deutsche Bank raised its rating from "sell" to "hold," boosting the price target from $80 to $160.
• The company reported earnings of $0.16 per share for the latest quarter, exceeding expectations and marking a 48% year-over-year revenue increase to $1 billion.

Modern Wealth Management LLC boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 141.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,114 shares of the company's stock after buying an additional 10,601 shares during the quarter. Modern Wealth Management LLC's holdings in Palantir Technologies were worth $1,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies in the fourth quarter valued at about $450,000. Bison Wealth LLC increased its holdings in Palantir Technologies by 37.4% in 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 last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Palantir Technologies by 120.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 16,583 shares of the company's stock valued at $1,254,000 after buying an additional 9,052 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Palantir Technologies by 7.5% in the fourth quarter. Pathstone Holdings LLC now owns 116,853 shares of the company's stock valued at $8,838,000 after buying an additional 8,146 shares during the last quarter. Finally, Shell Asset Management Co. bought a new stake in Palantir Technologies in the fourth quarter valued at about $1,002,000. 45.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLTR. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Bank of America lifted their target price on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 target price on Palantir Technologies in a research note on Tuesday, August 5th. Four equities 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Trading Up 4.3%

Shares of NASDAQ PLTR opened at $171.43 on Friday. The stock has a 50 day simple moving average of $160.07 and a 200-day simple moving average of $126.87. The company has a market cap of $406.69 billion, a PE ratio of 571.45, a P/E/G ratio of 9.26 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $34.89 and a 12-month 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 the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business's revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 191,720 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 592 shares in the company, valued at $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the sale, the insider owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,604,634 shares of company stock valued at $245,441,454. 9.23% 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.

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