Sageworth Trust Co Buys 2,660 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Sageworth Trust Co increased its holdings in Palantir Technologies Inc. by 26% in Q2, acquiring an additional 2,660 shares, bringing its total to 12,902 shares worth approximately $1.76 million.
• Palantir reported a 48% increase in quarterly revenue year-over-year, with earnings per share of $0.16, surpassing expectations of $0.14.
• Institutional investors own 45.65% of Palantir, with several hedge funds increasing their stakes, highlighting significant interest in the stock.

Sageworth Trust Co lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,902 shares of the company's stock after acquiring an additional 2,660 shares during the quarter. Sageworth Trust Co's holdings in Palantir Technologies were worth $1,759,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Palantir Technologies by 10.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock worth $984,786,000 after purchasing an additional 1,135,841 shares during the period. Golden State Equity Partners boosted its stake in Palantir Technologies by 10.1% in the 2nd quarter. Golden State Equity Partners now owns 18,361 shares of the company's stock worth $2,503,000 after purchasing an additional 1,677 shares during the period. FMB Wealth Management bought a new position in Palantir Technologies in the 2nd quarter worth approximately $223,000. Hummer Financial Advisory Services Inc bought a new position in Palantir Technologies in the 2nd quarter worth approximately $225,000. Finally, Bank of New Hampshire boosted its stake in Palantir Technologies by 11.4% in the 2nd quarter. Bank of New Hampshire now owns 19,842 shares of the company's stock worth $2,705,000 after purchasing an additional 2,023 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $184.95 on Thursday. The stock's fifty day moving average is $167.97 and its 200 day moving average is $135.33. Palantir Technologies Inc. has a fifty-two week low of $36.15 and a fifty-two week high of $190.00. The firm has a market capitalization of $438.76 billion, a PE ratio of 616.52, a PEG ratio of 10.18 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the prior year, the firm posted $0.09 EPS. Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the sale, the insider owned 702,786 shares in the company, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction 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 completion of the sale, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,591,085 shares of company stock worth $244,676,722 in the last ninety days. Corporate insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PLTR shares. Loop Capital upped their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on Palantir Technologies in a research report on Tuesday, August 5th. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $140.22.

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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