TTP Investments Inc. Buys Shares of 19,729 Palantir Technologies Inc. $PLTR

Key Points

• TTP Investments Inc. has acquired a new stake in Palantir Technologies Inc., purchasing 19,729 shares valued at approximately $2.69 million, making it the firm's 23rd largest holding.
• Palantir Technologies reported a 48% year-over-year increase in revenue for the quarter, hitting approximately $1 billion, and beating estimated earnings with a report of $0.16 EPS.
• Several institutional investors have either added to or established new stakes in Palantir, with 45.65% of the stock now owned by these entities, indicating growing confidence in the company's performance.

TTP Investments Inc. acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,729 shares of the company's stock, valued at approximately $2,689,000. Palantir Technologies makes up approximately 0.9% of TTP Investments Inc.'s portfolio, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Optima Capital LLC lifted its position in shares of Palantir Technologies by 0.6% during the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after purchasing an additional 81 shares during the last quarter. Allegiance Financial Group Advisory Services LLC grew its position in shares of Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after acquiring an additional 84 shares in the last quarter. Delta Investment Management LLC increased its holdings in shares of Palantir Technologies by 1.9% in the 1st quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock valued at $398,000 after acquiring an additional 90 shares during the last quarter. Sovran Advisors LLC increased its stake in Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the last quarter. Finally, Lodestone Wealth Management LLC boosted its stake in Palantir Technologies by 1.1% in the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after acquiring an additional 97 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PLTR. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their target price for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Bank of America upped their target price on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Citigroup reissued a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Mizuho set a $165.00 price target on shares of Palantir Technologies in a report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $138.28.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares in the company, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 21,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $165.95, for a total transaction of $3,484,950.00. Following the completion of the sale, the director owned 59,794 shares in the company, valued at $9,922,814.30. This represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,625,634 shares of company stock worth $248,926,404 over the last three months. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Stock Up 3.1%

Shares of NASDAQ PLTR traded up $5.42 during mid-day trading on Friday, reaching $182.39. 108,970,930 shares of the company were exchanged, compared to its average volume of 60,825,608. The company's 50-day simple moving average is $163.32 and its 200-day simple moving average is $130.54. The stock has a market capitalization of $432.69 billion, a P/E ratio of 607.99, a P/E/G ratio of 10.28 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $35.71 and a twelve 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, topping 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same period in the prior year, the firm posted $0.09 EPS. Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect 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.