Westmount Partners LLC Makes New Investment in Palantir Technologies Inc. $PLTR

Key Points

• Westmount Partners LLC has made a new investment in Palantir Technologies, acquiring 2,602 shares valued at approximately $355,000 during the second quarter.
• Insiders at Palantir have been actively selling shares, with a total of 1,625,634 shares sold in the last ninety days, valued at around $248.9 million.
• Palantir Technologies reported a 48% increase in revenue year-over-year, reaching $1 billion for the most recent quarter, surpassing estimates.

Westmount Partners LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,602 shares of the company's stock, valued at approximately $355,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $27,000. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $33,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 21,000 shares of the business'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 transaction, the director owned 59,794 shares in the company, valued at $9,922,814.30. The trade was a 25.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at $112,129,506.30. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,625,634 shares of company stock worth $248,926,404. Corporate insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLTR. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Mizuho set a $165.00 price target on Palantir Technologies in a research report on Monday. Finally, UBS Group reissued a "neutral" rating and set a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $138.28.

Palantir Technologies Stock Down 0.1%

PLTR stock opened at $171.21 on Tuesday. Palantir Technologies Inc. has a 52-week low of $35.56 and a 52-week high of $190.00. The stock's 50 day moving average is $160.71 and its two-hundred day moving average is $128.03. The company has a market capitalization of $406.17 billion, a PE ratio of 570.72, a P/E/G ratio of 9.66 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $939.29 million. During the same period in the previous year, the business earned $0.09 EPS. Palantir Technologies's revenue for the quarter was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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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