Sagespring Wealth Partners LLC Acquires 2,874 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Sagespring Wealth Partners LLC increased its holdings in Palantir Technologies by 11.9% during the second quarter, acquiring an additional 2,874 shares, bringing its total ownership to 26,928 shares valued at approximately $3.67 million.
• Palantir Technologies reported $1 billion in revenue for the last quarter, surpassing analyst estimates, and had a net margin of 22.18%, reflecting a 48% increase in revenue compared to the same period last year.
• Several hedge funds increased their stakes in Palantir, with 45.65% of its stock now owned by institutional investors, highlighting a growing interest in the company's future performance.

Sagespring Wealth Partners LLC lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 11.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 26,928 shares of the company's stock after acquiring an additional 2,874 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Palantir Technologies were worth $3,671,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. TD Asset Management Inc increased its stake in shares of Palantir Technologies by 1.1% in the second quarter. TD Asset Management Inc now owns 1,045,749 shares of the company's stock worth $142,557,000 after buying an additional 11,153 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of Palantir Technologies in the second quarter worth $28,000. Wilmington Savings Fund Society FSB increased its stake in shares of Palantir Technologies by 9.0% in the second quarter. Wilmington Savings Fund Society FSB now owns 10,507 shares of the company's stock worth $1,432,000 after buying an additional 867 shares during the period. RFG Advisory LLC increased its stake in shares of Palantir Technologies by 14.9% in the second quarter. RFG Advisory LLC now owns 20,801 shares of the company's stock worth $2,836,000 after buying an additional 2,694 shares during the period. Finally, Naviter Wealth LLC purchased a new position in shares of Palantir Technologies in the second quarter worth $1,116,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $177.21 on Tuesday. The firm's 50-day moving average price is $171.65 and its 200-day moving average price is $141.04. The company has a market capitalization of $420.40 billion, a PE ratio of 590.72, a P/E/G ratio of 9.51 and a beta of 2.60. Palantir Technologies Inc. has a 1-year low of $40.36 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, topping analysts' consensus estimates 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 net margin of 22.18% and a return on equity of 10.75%. The company's revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PLTR shares. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Piper Sandler reiterated an "overweight" rating on shares of Palantir Technologies in a research report on Tuesday. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the company a "neutral" 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 company an "equal weight" rating in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $140.22.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction dated 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 transaction, the insider owned 431,169 shares in the company, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,557,750 shares of company stock worth $239,713,896. 12.93% of the stock is owned by 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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