Southland Equity Partners LLC Buys Shares of 2,649 Palantir Technologies Inc. $PLTR

Key Points

• Southland Equity Partners LLC recently acquired 2,649 shares of Palantir Technologies Inc. worth approximately $361,000, during Q2 2023 as per SEC filings.
• Multiple large investors, including Park Avenue Securities LLC and Sowell Financial Services LLC, have also increased their stakes in Palantir during the second quarter, highlighting growing institutional interest.
• Insiders have sold a significant amount of stock in recent transactions, with one insider selling 36,048 shares worth over $5.7 million, indicating a 10.49% decrease in their ownership.

Southland Equity Partners LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,649 shares of the company's stock, valued at approximately $361,000.

A number of other large investors have also modified their holdings of the business. Park Avenue Securities LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth about $23,947,000. Palacios Wealth Management LLC grew its stake in shares of Palantir Technologies by 8.8% during the second quarter. Palacios Wealth Management LLC now owns 13,780 shares of the company's stock worth $1,878,000 after acquiring an additional 1,110 shares during the last quarter. Sowell Financial Services LLC grew its stake in shares of Palantir Technologies by 24.7% during the second quarter. Sowell Financial Services LLC now owns 77,426 shares of the company's stock worth $10,555,000 after acquiring an additional 15,336 shares during the last quarter. Physician Wealth Advisors Inc. grew its stake in shares of Palantir Technologies by 29.2% during the second quarter. Physician Wealth Advisors Inc. now owns 2,077 shares of the company's stock worth $283,000 after acquiring an additional 470 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC grew its stake in shares of Palantir Technologies by 2.9% during the second quarter. Arthur M. Cohen & Associates LLC now owns 17,935 shares of the company's stock worth $2,445,000 after acquiring an additional 497 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 36,048 shares of the business'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 owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly 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. In the last 90 days, insiders have sold 1,625,634 shares of company stock valued at $248,926,404. 9.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research reports. Piper Sandler set a $182.00 target price on Palantir Technologies in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Wedbush set a $200.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Bank of America lifted their target price on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Loop Capital lifted their target price on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $138.28.

Palantir Technologies Trading Up 3.1%

NASDAQ:PLTR opened at $182.39 on Friday. The firm has a market cap of $432.69 billion, a P/E ratio of 607.99, a PEG ratio of 10.28 and a beta of 2.59. The stock's 50 day simple moving average is $163.32 and its 200-day simple moving average is $130.19. Palantir Technologies Inc. has a 12-month low of $35.71 and a 12-month 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, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analyst estimates 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 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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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