Turtle Creek Wealth Advisors LLC Takes Position in Palantir Technologies Inc. $PLTR

Key Points

• Turtle Creek Wealth Advisors LLC acquired a new stake in Palantir Technologies, purchasing 9,383 shares valued at approximately $1.28 million in the second quarter.
• Insider transactions included significant sales, with Alexander C. Karp selling 222,878 shares and Shyam Sankar selling 375,000 shares, decreasing their holdings by 3.35% and 34.79% respectively.
• Analysts have set a consensus price target for Palantir Technologies at $141.28, with several firms issuing ratings ranging from buy to hold.

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,383 shares of the company's stock, valued at approximately $1,279,000.

A number of other hedge funds have also recently made changes to their positions in PLTR. Ignite Planners LLC raised its position in Palantir Technologies by 0.4% in the second quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock worth $2,094,000 after acquiring an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. raised its position in Palantir Technologies by 1.3% in the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock worth $747,000 after acquiring an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. raised its position in shares of Palantir Technologies by 1.0% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after purchasing an additional 73 shares during the period. Boomfish Wealth Group LLC raised its position in shares of Palantir Technologies by 2.7% in the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock valued at $379,000 after purchasing an additional 73 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Palantir Technologies by 3.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock valued at $329,000 after purchasing an additional 80 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This represents a 34.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,557,750 shares of company stock worth $239,713,896. 9.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Mizuho set a $165.00 price target on shares of Palantir Technologies in a research report on Monday, September 15th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Piper Sandler boosted their price target on shares of Palantir Technologies from $182.00 to $201.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Bank of America boosted their price target on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $141.28.

Palantir Technologies Trading Down 0.1%

Palantir Technologies stock opened at $179.62 on Thursday. The firm's 50 day simple moving average is $171.78 and its 200 day simple moving average is $141.58. The firm has a market capitalization of $426.12 billion, a PE ratio of 598.75, a price-to-earnings-growth ratio of 9.72 and a beta of 2.60. Palantir Technologies Inc. has a 1-year low of $40.36 and a 1-year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analyst estimates 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 was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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 year.

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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