Traphagen Investment Advisors LLC Buys Shares of 3,392 Palantir Technologies Inc. $PLTR

Key Points

• Traphagen Investment Advisors LLC acquired a new stake in Palantir Technologies by buying 3,392 shares, valued at approximately $462,000, during the second quarter.
• Analysts have raised their price targets for Palantir Technologies, with Bank of America increasing its target from $180.00 to $215.00 and Goldman Sachs from $90.00 to $141.00.
• Palantir Technologies reported a 48.0% year-over-year growth in revenue for the most recent quarter, with an earnings per share (EPS) of $0.16, exceeding analysts' expectations.

Traphagen Investment Advisors LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,392 shares of the company's stock, valued at approximately $462,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp increased its position in Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after purchasing an additional 64,973 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Palantir Technologies during the 2nd quarter valued at about $2,543,888,000. Invesco Ltd. increased its position in Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. increased its position in Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after purchasing an additional 571,544 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada lifted their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $110.00 to $155.00 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 stock an "outperform" rating in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $140.22.

Palantir Technologies Stock Up 1.5%

PLTR stock opened at $182.17 on Wednesday. The firm has a 50 day moving average of $169.85 and a 200 day moving average of $138.26. The stock has a market capitalization of $432.17 billion, a PE ratio of 607.25, a price-to-earnings-growth ratio of 10.02 and a beta of 2.60. Palantir Technologies Inc. has a 52 week low of $39.01 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company 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 last year, the business earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jeffrey Buckley sold 2,803 shares of the company's stock in a transaction 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 sale, the insider directly owned 50,961 shares of the company's stock, valued at $8,000,877. This represents a 5.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares in the company, valued at $66,602,675.43. This trade represents a 15.82% 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 over the last ninety days. Company insiders own 12.93% of the company's stock.

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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