Prudential Financial Inc. Increases Stake in Palantir Technologies Inc. $PLTR

Prudential Financial Inc. increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 27.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,767,797 shares of the company’s stock after purchasing an additional 381,206 shares during the period. Prudential Financial Inc.’s holdings in Palantir Technologies were worth $240,986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Accuvest Global Advisors grew its holdings in shares of Palantir Technologies by 0.7% during the second quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock valued at $1,232,000 after buying an additional 63 shares during the last quarter. Ignite Planners LLC raised its stake in Palantir Technologies by 0.4% in the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after acquiring an additional 66 shares during the last quarter. Christensen King & Associates Investment Services Inc. lifted its position in Palantir Technologies by 1.3% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock worth $747,000 after acquiring an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. grew its stake in Palantir Technologies by 1.0% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock valued at $1,007,000 after purchasing an additional 73 shares during the last quarter. Finally, Boomfish Wealth Group LLC increased its holdings in shares of Palantir Technologies by 2.7% in the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock valued at $379,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $154.85 on Friday. The company has a market capitalization of $369.08 billion, a PE ratio of 368.70, a price-to-earnings-growth ratio of 6.00 and a beta of 2.63. The company’s fifty day moving average price is $180.34 and its 200 day moving average price is $158.19. Palantir Technologies Inc. has a 1 year low of $61.37 and a 1 year high of $207.52.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on PLTR shares. Morgan Stanley lifted their target price on Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. DA Davidson lifted their price objective on shares of Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. HSBC upped their price objective on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $172.28.

Insiders Place Their Bets

In other news, insider Jeffrey Buckley sold 2,803 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the completion of the transaction, the insider directly owned 50,961 shares of the company’s stock, valued at $8,000,877. This represents a 5.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 value of $12,512,070.00. Following the transaction, the insider owned 431,169 shares in the company, valued at $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 150,651 shares of company stock worth $23,892,804. 9.23% of the stock is owned by company 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.