Palantir Technologies Inc. $PLTR Shares Purchased by Purus Wealth Management LLC

Key Points

• Purus Wealth Management LLC increased its stake in Palantir Technologies by 25.8%, now owning 12,900 shares valued at approximately $1,089,000 after purchasing an additional 2,646 shares.
• Multiple institutional investors, including Goldman Sachs and Price T Rowe Associates, have significantly increased their holdings in Palantir, reflecting strong interest in the stock.
• Palantir recently reported a quarterly revenue increase of 48.0% year-over-year, beating expectations with earnings per share of $0.16, and has set future guidance for FY 2025.

Purus Wealth Management LLC raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,900 shares of the company's stock after buying an additional 2,646 shares during the period. Purus Wealth Management LLC's holdings in Palantir Technologies were worth $1,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after purchasing an additional 6,479 shares during the period. Garrison Bradford & Associates Inc. purchased a new position in Palantir Technologies in the first quarter valued at $45,000. Menard Financial Group LLC boosted its holdings in Palantir Technologies by 8.2% in the first quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock valued at $2,189,000 after purchasing an additional 1,964 shares during the period. TCW Group Inc. boosted its holdings in Palantir Technologies by 14.5% in the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock valued at $2,703,000 after purchasing an additional 4,068 shares during the period. Finally, Sagespring Wealth Partners LLC boosted its holdings in Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after purchasing an additional 6,405 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. UBS Group reiterated a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on Palantir Technologies in a report on Tuesday, August 5th. Loop Capital lifted their target price on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $136.61.

Insiders Place Their Bets

In other 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Buckley sold 1,076 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $155.75, for a total value of $167,587.00. Following the completion of the sale, the insider directly owned 53,764 shares of the company's stock, valued at $8,373,743. The trade was a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,906,783 shares of company stock worth $282,471,442. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 1.6%

Shares of Palantir Technologies stock traded up $2.56 on Friday, hitting $158.74. The stock had a trading volume of 101,782,072 shares, compared to its average volume of 77,128,816. Palantir Technologies Inc. has a 52-week low of $29.31 and a 52-week high of $190.00. The stock has a market cap of $376.59 billion, a price-to-earnings ratio of 529.15, a P/E/G ratio of 8.95 and a beta of 2.60. The company's 50 day moving average price is $153.61 and its 200 day moving average price is $121.91.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the previous year, the business earned $0.09 EPS. The business'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. Analysts predict 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.