SP Asset Management LLC Purchases New Shares in Palantir Technologies Inc. $PLTR

SP Asset Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 1,700 shares of the company’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truist Financial Corp lifted its holdings in Palantir Technologies by 4.2% in the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after purchasing an additional 21,809 shares in the last quarter. State of Michigan Retirement System lifted its holdings in Palantir Technologies by 1.3% in the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock valued at $127,923,000 after purchasing an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at about $204,000. New Century Financial Group LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at about $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Palantir Technologies by 10.8% in 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 valued at $984,786,000 after purchasing an additional 1,135,841 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $187.90 on Thursday. The firm has a 50 day moving average price of $176.97 and a 200 day moving average price of $152.92. The company has a market cap of $445.76 billion, a PE ratio of 447.39, a price-to-earnings-growth ratio of 10.11 and a beta of 2.63. Palantir Technologies Inc. has a 1 year low of $51.61 and a 1 year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company’s revenue was up 62.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 50,961 shares of the company’s stock, valued at $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares of the company’s stock, valued at $66,602,675.43. This trade represents a 15.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,527,750 shares of company stock worth $234,463,896. Insiders own 9.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a report on Tuesday. Bank of America upped their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research note on Tuesday. UBS Group upped their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Mizuho upped their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $169.44.

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.