Richards Merrill & Peterson Inc. Has $1.65 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Richards Merrill & Peterson Inc. increased its stake in Palantir Technologies by 40.3% in Q2, now holding shares worth approximately $1.65 million.
• Several large investors have recently established new positions in Palantir, contributing to institutional ownership of 45.65% of the company's stock.
• Palantir reported a quarterly earnings per share (EPS) of $0.16, exceeding analysts' expectations and showcasing a 48% year-over-year revenue growth.

Richards Merrill & Peterson Inc. grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,129 shares of the company's stock after buying an additional 3,485 shares during the period. Richards Merrill & Peterson Inc.'s holdings in Palantir Technologies were worth $1,653,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PLTR. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the first quarter worth about $25,000. Signature Resources Capital Management LLC bought a new position in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies during the first quarter worth approximately $27,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of Palantir Technologies during the second quarter worth approximately $27,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on PLTR. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald raised their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Bank of America upped their target price on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Finally, Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $141.28.

Palantir Technologies Price Performance

PLTR opened at $184.63 on Friday. The company has a market capitalization of $438.01 billion, a price-to-earnings ratio of 615.45, a P/E/G ratio of 9.78 and a beta of 2.60. The business's 50-day moving average price is $171.35 and its two-hundred day moving average price is $146.34. Palantir Technologies Inc. has a 1 year low of $40.90 and a 1 year high of $190.00.

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

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the sale, the insider owned 307,470 shares in the company, valued at $48,687,874.50. This represents a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider David A. Glazer sold 81,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider directly owned 431,169 shares of the company's stock, 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. Insiders have sold a total of 1,557,750 shares of company stock valued at $239,713,896 over the last 90 days. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Company 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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