US Asset Management LLC Takes $293,000 Position in Palantir Technologies Inc. $PLTR

Key Points

• US Asset Management LLC has acquired a new position in Palantir Technologies, purchasing 2,146 shares valued at approximately $293,000.
• Insider trades indicated significant sales, with two insiders selling over 117,000 shares recently, marking notable decreases in their holdings.
• Palantir Technologies reported a 48% increase in revenue year-over-year, achieving $1 billion for the quarter and exceeding analysts' expectations.

US Asset Management LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,146 shares of the company's stock, valued at approximately $293,000.

Several other institutional investors have also recently made changes to their positions in PLTR. Kingstone Capital Partners Texas LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $2,543,888,000. Nuveen LLC acquired a new stake in Palantir Technologies in the 1st quarter valued at $520,232,000. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 4,748,513 shares during the period. Goldman Sachs Group Inc. grew its stake 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 valued at $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. Finally, Amundi grew its stake in Palantir Technologies by 56.1% in the 1st quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after acquiring an additional 3,815,386 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider owned 307,470 shares in the company, valued at $48,687,874.50. The trade was a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,634,634 shares of company stock worth $250,524,804. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Down 0.9%

Shares of PLTR opened at $177.57 on Friday. Palantir Technologies Inc. has a 52-week low of $36.05 and a 52-week high of $190.00. The firm's fifty day moving average is $166.16 and its two-hundred day moving average is $133.28. The stock has a market cap of $421.26 billion, a PE ratio of 591.92, a price-to-earnings-growth ratio of 9.99 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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 net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter in the previous year, the company posted $0.09 EPS. The firm'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, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Loop Capital lifted their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada lifted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating 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 price target for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Bank of America lifted their price target on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $140.22.

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.

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.