Strong Tower Advisory Services Lowers Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Strong Tower Advisory Services has reduced its stake in Palantir Technologies Inc. by 9.6% in the second quarter, leaving them with 17,134 shares valued at approximately $2.34 million.
• Several hedge funds, including Truist Financial Corp, have increased their holdings in Palantir, with Truist now owning 537,000 shares worth around $73.2 million after a 4.2% increase.
• Palantir's stock currently has a market capitalization of $416.20 billion, with a one-year price range from $40.36 to $190.00 and a consensus price target of $140.22 among analysts.

Strong Tower Advisory Services cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,134 shares of the company's stock after selling 1,821 shares during the period. Strong Tower Advisory Services' holdings in Palantir Technologies were worth $2,336,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp increased its holdings in Palantir Technologies by 4.2% in the second quarter. Truist Financial Corp now owns 537,000 shares of the company's stock valued at $73,204,000 after buying an additional 21,809 shares in the last quarter. New Century Financial Group LLC purchased a new position in Palantir Technologies in the second quarter valued at about $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Palantir Technologies by 10.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock valued at $984,786,000 after buying an additional 1,135,841 shares in the last quarter. Synergy Asset Management LLC increased its holdings in Palantir Technologies by 37.1% in the second quarter. Synergy Asset Management LLC now owns 9,623 shares of the company's stock valued at $1,312,000 after buying an additional 2,606 shares in the last quarter. Finally, Golden State Equity Partners increased its holdings in Palantir Technologies by 10.1% in the second quarter. Golden State Equity Partners now owns 18,361 shares of the company's stock valued at $2,503,000 after buying an additional 1,677 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on PLTR shares. Mizuho set a $165.00 target price on shares of Palantir Technologies in a report on Monday, September 15th. Loop Capital raised their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Weiss Ratings reissued a "buy (b-)" rating on shares of Palantir Technologies in a research note on Wednesday. UBS Group reissued a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Bank of America raised their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Five equities 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $140.22.

Palantir Technologies Stock Performance

PLTR stock opened at $175.44 on Friday. The stock has a market capitalization of $416.20 billion, a P/E ratio of 584.82, a PEG ratio of 10.05 and a beta of 2.60. Palantir Technologies Inc. has a one year low of $40.36 and a one year high of $190.00. The company has a 50 day moving average price of $171.32 and a two-hundred day moving average price of $139.72.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's revenue for the quarter was up 48.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. 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 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares of the company's stock, valued at approximately $8,000,877. The trade was a 5.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction that occurred 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 completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,591,085 shares of company stock worth $244,714,146 in the last three months. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies 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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