Palantir Technologies Inc. $PLTR Stock Position Raised by Avion Wealth

Key Points

• Avion Wealth significantly increased its stake in Palantir Technologies by 406.9%, acquiring a total of 2,722 shares valued at $371,000.
• Several other institutional investors have also entered positions in Palantir, with 45.65% of the stock now owned by institutional investors.
• Insiders have sold a total of 1,557,750 shares of Palantir stock in the past 90 days, with significant sales made by insiders David A. Glazer and Stephen Andrew Cohen.

Avion Wealth boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 406.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,722 shares of the company's stock after acquiring an additional 2,185 shares during the period. Avion Wealth's holdings in Palantir Technologies were worth $371,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Mechanics Financial Corp bought a new stake in Palantir Technologies in the first quarter valued at $25,000. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies during the 1st quarter worth $27,000. 1248 Management LLC bought a new position in shares of Palantir Technologies in the first quarter worth $27,000. Finally, Briaud Financial Planning Inc acquired a new position in shares of Palantir Technologies during the second quarter valued at $27,000. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 81,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares in the company, valued at $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of the firm'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 completion of the sale, the insider directly owned 592 shares of the company's stock, valued at approximately $89,611.04. This trade represents a 99.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,750 shares of company stock valued at $239,713,896 over the last 90 days. 9.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research analyst reports. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. 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. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Mizuho set a $165.00 price target on Palantir Technologies in a research note on Monday, September 15th. Finally, Piper Sandler boosted their price objective on Palantir Technologies from $182.00 to $201.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $141.28.

Palantir Technologies Stock Up 1.1%

Shares of NASDAQ PLTR opened at $177.50 on Thursday. The stock's fifty day simple moving average is $171.21 and its 200 day simple moving average is $144.89. The stock has a market capitalization of $421.10 billion, a price-to-earnings ratio of 589.26, a PEG ratio of 9.84 and a beta of 2.60. Palantir Technologies Inc. has a 52-week low of $40.90 and a 52-week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating 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%.Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.