Private Client Services LLC Increases Position in Palantir Technologies Inc. $PLTR

Key Points

• Private Client Services LLC increased its holdings in Palantir Technologies by 111.9% in the second quarter, owning 8,387 shares worth approximately $1.14 million post-purchase.
• Several institutional investors, including Nuveen LLC and Goldman Sachs Group Inc., also significantly boosted their positions in Palantir, indicating strong investor confidence.
• Palantir's stock has seen a substantial increase in price targets by various analysts, with Goldman Sachs raising its target from $90.00 to $141.00 and other firms also setting higher price objectives.

Private Client Services LLC lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 111.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,387 shares of the company's stock after purchasing an additional 4,429 shares during the period. Private Client Services LLC's holdings in Palantir Technologies were worth $1,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PLTR. Nuveen LLC purchased a new position in shares of Palantir Technologies in the 1st quarter valued at about $520,232,000. Price T Rowe Associates Inc. MD boosted its holdings in Palantir Technologies by 55.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after buying an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after buying an additional 4,221,392 shares during the last quarter. Amundi boosted its holdings in Palantir Technologies by 56.1% in the 1st quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after buying an additional 3,815,386 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after buying an additional 2,998,716 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 375,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at $106,261,243.20. This represents a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,604,634 shares of company stock valued at $245,441,454 in the last ninety days. 9.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PLTR has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price objective on 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 objective on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Finally, Citigroup reiterated a "neutral" rating and issued a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $136.61.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $171.43 on Friday. The stock has a market cap of $406.69 billion, a P/E ratio of 571.45, a P/E/G ratio of 9.26 and a beta of 2.59. The stock's 50 day simple moving average is $160.07 and its 200-day simple moving average is $126.87. Palantir Technologies Inc. has a 1-year low of $34.89 and a 1-year 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 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion for 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 business's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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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