RPg Family Wealth Advisory LLC Takes $3.22 Million Position in Palantir Technologies Inc. $PLTR

Key Points

• RPg Family Wealth Advisory LLC invested approximately $3.22 million in Palantir Technologies by purchasing 38,152 shares in the first quarter.
• Multiple institutional investors, including Synovus Financial Corp and Westwood Wealth Management, have increased their stakes in Palantir Technologies, contributing to the 45.65% of the stock currently owned by institutional investors.
• Palantir Technologies recently reported earnings of $0.16 per share, exceeding expectations, and indicated a 48% year-over-year revenue increase to $1 billion for the quarter.

RPg Family Wealth Advisory LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 38,152 shares of the company's stock, valued at approximately $3,220,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Synovus Financial Corp increased its holdings in shares of Palantir Technologies by 5.9% during the first quarter. Synovus Financial Corp now owns 22,068 shares of the company's stock valued at $1,863,000 after acquiring an additional 1,238 shares in the last quarter. ICONIQ Capital LLC increased its holdings in Palantir Technologies by 19.5% in the 1st quarter. ICONIQ Capital LLC now owns 8,398 shares of the company's stock worth $709,000 after buying an additional 1,372 shares in the last quarter. Napa Wealth Management increased its holdings in Palantir Technologies by 93.8% in the 1st quarter. Napa Wealth Management now owns 7,743 shares of the company's stock worth $654,000 after buying an additional 3,748 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Palantir Technologies by 21.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 15,581 shares of the company's stock worth $1,338,000 after buying an additional 2,739 shares in the last quarter. Finally, Westwood Wealth Management increased its holdings in Palantir Technologies by 199.7% in the 1st quarter. Westwood Wealth Management now owns 52,450 shares of the company's stock worth $4,427,000 after buying an additional 34,950 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PLTR. Bank of America lifted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Citigroup reissued a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Price Performance

Shares of PLTR opened at $158.74 on Friday. The stock has a market capitalization of $376.59 billion, a price-to-earnings ratio of 529.15, a price-to-earnings-growth ratio of 8.95 and a beta of 2.60. The business's 50 day simple moving average is $153.61 and its 200-day simple moving average is $121.91. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year 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 for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for 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%.The company's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 222,878 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. The trade was a 3.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 191,720 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $89,611.04. This represents a 99.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,906,783 shares of company stock worth $282,471,442. 9.23% of the stock is owned by company insiders.

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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