Principle Wealth Partners LLC Has $3.35 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Principle Wealth Partners LLC increased its holdings in Palantir Technologies by 13.2%, bringing their total investment to approximately $3.35 million in the 2nd quarter.
• Several institutional investors have also raised their stakes in Palantir, with institutional ownership now at 45.65% of the company's stock.
• Despite a recent increase in stock ratings from various brokerages, Palantir shares experienced a 3.3% decline recently, with a current market cap of $416.32 billion.

Principle Wealth Partners LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,554 shares of the company's stock after purchasing an additional 2,872 shares during the period. Principle Wealth Partners LLC's holdings in Palantir Technologies were worth $3,347,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ignite Planners LLC boosted its stake in shares of Palantir Technologies by 0.4% in the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock valued at $2,094,000 after purchasing an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. boosted its stake in shares of Palantir Technologies by 1.3% in the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after purchasing an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. boosted its stake in shares of Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after purchasing an additional 73 shares in the last quarter. Boomfish Wealth Group LLC boosted its stake in shares of Palantir Technologies by 2.7% in the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock valued at $379,000 after purchasing an additional 73 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Palantir Technologies by 3.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock valued at $329,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on PLTR. Piper Sandler boosted their target price on shares of Palantir Technologies from $182.00 to $201.00 and gave the company an "overweight" rating in a research note on Tuesday, October 14th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $141.28.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. The trade was a 4.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $186.39, for a total value of $149,112.00. Following the sale, the director directly owned 62,087 shares of the company's stock, valued at $11,572,395.93. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,557,750 shares of company stock worth $239,713,896. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Down 3.3%

Shares of NASDAQ PLTR opened at $175.49 on Thursday. The firm's 50-day simple moving average is $171.21 and its 200 day simple moving average is $144.89. The company has a market cap of $416.32 billion, a price-to-earnings ratio of 584.99, a price-to-earnings-growth ratio of 9.84 and a beta of 2.60. Palantir Technologies Inc. has a 12-month low of $40.90 and a 12-month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm 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%.The company's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies 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.

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