SCS Capital Management LLC Purchases Shares of 22,254 Palantir Technologies Inc. $PLTR

Key Points

• SCS Capital Management LLC has acquired a new stake of 22,254 shares in Palantir Technologies, valued at approximately $1,878,000.
• The company's quarterly revenue increased by 48% year-over-year, reaching $1 billion, with earnings per share (EPS) of $0.16, exceeding estimates.
• Palantir Technologies has received several upgrades from analysts, with new price targets ranging from $135 to $180 as stock ratings include multiple "buy" and "hold" recommendations.

SCS Capital Management LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 22,254 shares of the company's stock, valued at approximately $1,878,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in shares of Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Garrison Bradford & Associates Inc. bought a new position in shares of Palantir Technologies in the first quarter worth about $45,000. Menard Financial Group LLC raised its holdings in Palantir Technologies by 8.2% in the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock valued at $2,189,000 after buying an additional 1,964 shares during the last quarter. TCW Group Inc. raised its holdings in Palantir Technologies by 14.5% in the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company's stock valued at $2,703,000 after buying an additional 4,068 shares during the last quarter. Finally, Sagespring Wealth Partners LLC raised its holdings in Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after purchasing an additional 6,405 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $162.36 on Wednesday. The stock has a 50-day moving average of $158.03 and a 200 day moving average of $125.50. The company has a market capitalization of $385.17 billion, a price-to-earnings ratio of 541.22, a PEG ratio of 8.80 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $33.62 and a one 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 (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the prior year, the firm posted $0.09 EPS. The firm'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. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on PLTR shares. UBS Group restated a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. 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. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. The Goldman Sachs Group upped their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, Bank of America upped their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Four 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. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average price target of $136.61.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 160,164 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $24,945,543.00. Following the sale, the insider owned 592 shares in the company, valued at $92,204. This trade represents a 99.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $12,512,070.00. Following the transaction, the insider owned 431,169 shares in the company, valued at approximately $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 90 days, insiders have sold 1,604,634 shares of company stock valued at $245,441,454. Insiders own 12.93% of the company's stock.

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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