Surience Private Wealth LLC Increases Position in Palantir Technologies Inc. $PLTR

Key Points

• Surience Private Wealth LLC increased its holdings in Palantir Technologies by 258.5% during Q2, now owning 18,386 shares worth approximately $2.5 million.
• Palantir Technologies reported Q2 earnings of $0.16 per share, exceeding estimates and showing a 48% increase in revenue compared to the same quarter last year.
• Insider sales were notable, with co-founder Shyam Sankar selling 375,000 shares for over $56 million, representing a 34.79% decrease in his position.

Surience Private Wealth LLC lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 258.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,386 shares of the company's stock after acquiring an additional 13,258 shares during the quarter. Palantir Technologies accounts for about 2.4% of Surience Private Wealth LLC's holdings, making the stock its 16th largest position. Surience Private Wealth LLC's holdings in Palantir Technologies were worth $2,506,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PLTR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Palantir Technologies by 10.8% during 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 during the period. Golden State Equity Partners boosted its stake 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 acquiring an additional 1,677 shares during the last quarter. Hummer Financial Advisory Services Inc bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $225,000. Bank of New Hampshire increased its stake in shares of Palantir Technologies by 11.4% during 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 last quarter. Finally, Fox Hill Wealth Management increased its stake in shares of Palantir Technologies by 5.9% during the 2nd quarter. Fox Hill Wealth Management now owns 41,470 shares of the company's stock worth $5,653,000 after purchasing an additional 2,325 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 1.6%

Palantir Technologies stock opened at $179.56 on Thursday. Palantir Technologies Inc. has a 52 week low of $36.05 and a 52 week high of $190.00. The business has a 50-day simple moving average of $165.17 and a 200 day simple moving average of $131.89. The stock has a market cap of $425.98 billion, a price-to-earnings ratio of 598.55, a PEG ratio of 10.29 and a beta of 2.59.

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 firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter last year, the firm posted $0.09 EPS. The company's 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, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Bank of America boosted 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. Royal Bank Of Canada upped their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Finally, Loop Capital increased their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Four equities 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $140.22.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 375,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies 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 in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,634,634 shares of company stock worth $250,524,804. 9.23% of the stock is owned by corporate insiders.

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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