Bay Rivers Group Has $3.83 Million Holdings in Palantir Technologies Inc. $PLTR

Bay Rivers Group lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 85.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 28,084 shares of the company’s stock after purchasing an additional 12,942 shares during the quarter. Palantir Technologies accounts for approximately 1.8% of Bay Rivers Group’s investment portfolio, making the stock its 22nd largest holding. Bay Rivers Group’s holdings in Palantir Technologies were worth $3,828,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PLTR. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $27,000. 1248 Management LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $27,000. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $33,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock worth $33,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLTR. Bank of America lifted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 price target on Palantir Technologies in a research note on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Finally, DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $138.28.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $973,650,893.46. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,625,634 shares of company stock valued at $248,926,404. Insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

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

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business’s revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share 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.