Park Avenue Securities LLC Takes $23.95 Million Position in Palantir Technologies Inc. $PLTR

Key Points

• Park Avenue Securities LLC has acquired a new stake in Palantir Technologies, purchasing 175,667 shares valued at approximately $23.95 million during the second quarter.
• Insider trades indicate significant selling activity, with insider David A. Glazer selling 81,000 shares for over $12.5 million, reducing his ownership by 15.82%.
• Wall Street analysts have varied opinions on Palantir, with an average rating of "Hold" and a consensus price target of $138.28.

Park Avenue Securities LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 175,667 shares of the company's stock, valued at approximately $23,947,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Palantir Technologies by 10.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock valued at $984,786,000 after buying an additional 1,135,841 shares during the period. Hummer Financial Advisory Services Inc acquired a new stake in Palantir Technologies during the 2nd quarter valued at $225,000. Bank of New Hampshire increased its holdings in shares of Palantir Technologies by 11.4% in the 2nd quarter. Bank of New Hampshire now owns 19,842 shares of the company's stock worth $2,705,000 after acquiring an additional 2,023 shares during the period. Fox Hill Wealth Management boosted its holdings in shares of Palantir Technologies by 5.9% during the second quarter. Fox Hill Wealth Management now owns 41,470 shares of the company's stock worth $5,653,000 after purchasing an additional 2,325 shares during the period. Finally, BDF Gestion acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $4,409,000. Institutional investors own 45.65% of the company's stock.

Insider Activity

In related news, insider David A. Glazer sold 81,000 shares of the stock in a transaction dated 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 transaction, the insider owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeffrey Buckley sold 2,803 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares of the company's stock, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,625,634 shares of company stock valued at $248,926,404 in the last 90 days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

PLTR stock traded up $5.42 during trading on Friday, hitting $182.39. 108,970,930 shares of the company's stock traded hands, compared to its average volume of 60,825,608. The business has a fifty day simple moving average of $163.32 and a 200 day simple moving average of $130.54. The stock has a market capitalization of $432.69 billion, a price-to-earnings ratio of 607.99, a P/E/G ratio of 10.28 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $35.71 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analyst estimates 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 for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Mizuho set a $165.00 price target on Palantir Technologies in a research note on Monday, September 15th. Royal Bank Of Canada lifted their target price on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $138.28.

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.