Sara Bay Financial Makes New $273,000 Investment in Palantir Technologies Inc. $PLTR

Key Points

• Sara Bay Financial has made a new $273,000 investment into Palantir Technologies, purchasing 2,000 shares of the company's stock in the second quarter.
• Palantir Technologies reported a 48% increase in revenue year-over-year, bringing in $1 billion for the quarter and exceeding analyst estimates.
• Recent insider sales included Alexander C. Karp selling 222,878 shares valued at approximately $33.7 million, indicating a decrease in ownership by 3.35%.

Sara Bay Financial bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the company's stock, valued at approximately $273,000.

Several other institutional investors have also recently bought and sold shares of PLTR. Kingstone Capital Partners Texas LLC acquired a new position in Palantir Technologies during the second quarter worth about $2,543,888,000. Nuveen LLC acquired a new position in Palantir Technologies during the first quarter worth about $520,232,000. Price T Rowe Associates Inc. MD raised its stake in Palantir Technologies by 55.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after buying an additional 4,221,392 shares during the period. Finally, Amundi increased its stake in shares of Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after buying an additional 3,815,386 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $182.55 on Wednesday. The stock has a market capitalization of $433.07 billion, a price-to-earnings ratio of 608.52, a PEG ratio of 10.11 and a beta of 2.59. Palantir Technologies Inc. has a 52-week low of $36.05 and a 52-week high of $190.00. The stock's 50 day moving average price is $164.60 and its two-hundred day moving average price is $131.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued 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. 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 period in the prior year, the firm earned $0.09 earnings per share. Palantir Technologies's revenue for the quarter 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. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 222,878 shares of the company'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 directly owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,634,634 shares of company stock valued at $250,524,804 over the last three months. 12.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Cantor Fitzgerald upped their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Bank of America upped their price objective on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday. The Goldman Sachs Group upped their price objective on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Loop Capital upped their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average target price of $140.22.

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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