Precedent Wealth Partners LLC Makes New Investment in Palantir Technologies Inc. $PLTR

Precedent Wealth Partners LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,699 shares of the company's stock, valued at approximately $368,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Truist Financial Corp increased its stake in shares of Palantir Technologies by 4.2% in the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company's stock valued at $73,204,000 after purchasing an additional 21,809 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock worth $984,786,000 after acquiring an additional 1,135,841 shares during the last quarter. Golden State Equity Partners grew its position in Palantir Technologies by 10.1% during the 2nd quarter. Golden State Equity Partners now owns 18,361 shares of the company's stock worth $2,503,000 after acquiring an additional 1,677 shares during the last quarter. Synergy Asset Management LLC grew its position in Palantir Technologies by 37.1% during the 2nd quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock worth $1,312,000 after acquiring an additional 2,606 shares during the last quarter. Finally, FMB Wealth Management bought a new stake in Palantir Technologies during the 2nd quarter worth $223,000. Institutional investors own 45.65% of the company's stock.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,000 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $177.60, for a total transaction of $1,598,400.00. Following the sale, the director owned 50,794 shares in the company, valued at $9,021,014.40. This represents a 15.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 81,000 shares of the company's 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 in the company, valued at $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Down 7.5%

PLTR stock opened at $173.07 on Friday. The firm has a market cap of $410.58 billion, a PE ratio of 576.92, a P/E/G ratio of 10.44 and a beta of 2.60. The business has a 50 day moving average of $168.90 and a 200-day moving average of $136.63. Palantir Technologies Inc. has a 12-month low of $38.78 and a 12-month high of $190.00.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Mizuho set a $165.00 price objective on Palantir Technologies in a research note on Monday, September 15th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and boosted their target price for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $140.22.

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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