Prosperity Wealth Management Inc. Purchases 3,585 Shares of Palantir Technologies Inc. $PLTR

Prosperity Wealth Management Inc. boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 17.4% in the 2nd quarter, Holdings Channel reports. The firm owned 24,238 shares of the company’s stock after buying an additional 3,585 shares during the quarter. Palantir Technologies accounts for approximately 1.2% of Prosperity Wealth Management Inc.’s portfolio, making the stock its 16th biggest position. Prosperity Wealth Management Inc.’s holdings in Palantir Technologies were worth $3,304,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PLTR. Mechanics Financial Corp bought a new stake in Palantir Technologies in the first quarter worth about $25,000. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies in the second quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies in the first quarter worth about $27,000. 1248 Management LLC bought a new stake in Palantir Technologies in the first quarter worth about $27,000. Finally, Briaud Financial Planning Inc bought a new stake in Palantir Technologies in the second quarter worth about $27,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 3.0%

Shares of NASDAQ:PLTR opened at $200.47 on Friday. The company has a market capitalization of $475.58 billion, a price-to-earnings ratio of 668.26, a price-to-earnings-growth ratio of 10.87 and a beta of 2.60. Palantir Technologies Inc. has a 52 week low of $40.90 and a 52 week high of $204.18. The firm has a 50 day moving average of $174.75 and a 200 day moving average of $150.78.

Palantir Technologies (NASDAQ:PLTR) last issued 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 during the quarter, compared to the consensus estimate 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 for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were 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 owned 307,470 shares of the company’s stock, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 $106,261,243.20. This trade represents a 34.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,557,750 shares of company stock valued at $239,713,896 over the last ninety days. Company insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several analyst reports. Piper Sandler raised their price objective on shares of Palantir Technologies from $182.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the company an “outperform” 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. Finally, UBS Group reaffirmed a “neutral” rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $142.00.

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.