Thurston Springer Miller Herd & Titak Inc. Boosts Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its holdings in Palantir Technologies by 104.1% in the second quarter, now owning 6,804 shares valued at $928,000.
• A significant number of institutional investors have boosted their stakes in Palantir, with Nuveen LLC acquiring a new stake valued at approximately $520 million in the first quarter.
• Palantir Technologies reported a revenue of $1 billion for the last quarter, outperforming analyst expectations and marking a 48% year-over-year growth.

Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 104.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,804 shares of the company's stock after buying an additional 3,471 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Palantir Technologies were worth $928,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $520,232,000. Price T Rowe Associates Inc. MD lifted its stake in Palantir Technologies by 55.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after buying an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after buying an additional 4,221,392 shares during the last quarter. Amundi increased its stake in Palantir Technologies by 56.1% during the 1st quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after buying an additional 3,815,386 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after acquiring an additional 2,998,716 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 375,000 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the sale, the insider owned 702,786 shares in the company, valued at $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,604,634 shares of company stock valued at $245,441,454 in the last ninety days. Company insiders own 12.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLTR. Piper Sandler set a $182.00 price target on Palantir Technologies in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their target price for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $136.61.

Palantir Technologies Trading Up 4.3%

Palantir Technologies stock opened at $171.43 on Monday. The company has a 50-day moving average price of $160.07 and a 200 day moving average price of $127.42. Palantir Technologies Inc. has a 12-month low of $34.89 and a 12-month high of $190.00. The stock has a market cap of $406.69 billion, a P/E ratio of 571.45, a PEG ratio of 9.66 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted 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. The business 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%. The business's revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.