Wright Investors Service Inc. Makes New Investment in Palantir Technologies Inc. $PLTR

Key Points

• Wright Investors Service Inc. acquired a new stake in Palantir Technologies Inc. during the second quarter, purchasing 6,029 shares valued at approximately $822,000.
• Palantir's recent quarterly earnings report showed 48% year-over-year revenue growth, posting $1 billion in revenue and achieving $0.16 earnings per share, surpassing analysts' expectations.
• Insider trading activity includes significant sales by executives, with one insider selling 81,000 shares for over $12 million, indicating a 15.82% decrease in their ownership stake.

Wright Investors Service Inc. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,029 shares of the company's stock, valued at approximately $822,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company's stock worth $984,786,000 after purchasing an additional 1,135,841 shares in the last quarter. Hummer Financial Advisory Services Inc purchased a new stake in Palantir Technologies during the 2nd quarter worth about $225,000. Bank of New Hampshire lifted its holdings in Palantir Technologies by 11.4% during the 2nd quarter. Bank of New Hampshire now owns 19,842 shares of the company's stock worth $2,705,000 after buying an additional 2,023 shares during the last quarter. Fox Hill Wealth Management lifted its holdings in Palantir Technologies by 5.9% during the 2nd quarter. Fox Hill Wealth Management now owns 41,470 shares of the company's stock worth $5,653,000 after buying an additional 2,325 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after buying an additional 6,479 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on PLTR shares. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Citigroup reissued a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Finally, DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $140.22.

Palantir Technologies Stock Up 1.3%

Shares of PLTR traded up $2.34 on Tuesday, reaching $181.67. The stock had a trading volume of 31,006,580 shares, compared to its average volume of 88,649,625. The firm has a market capitalization of $430.99 billion, a PE ratio of 605.02, a PEG ratio of 10.28 and a beta of 2.59. The firm has a 50-day moving average of $163.92 and a 200 day moving average of $131.20. Palantir Technologies Inc. has a twelve month low of $36.05 and a twelve month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly 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 analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company's revenue was up 48.0% compared to the same quarter last year. 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. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Buckley sold 2,803 shares of the 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 owned 50,961 shares in the company, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,634,634 shares of company stock worth $250,524,804 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

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.