RiverFront Investment Group LLC Has $21.13 Million Stock Holdings in Palantir Technologies Inc. $PLTR

RiverFront Investment Group LLC increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1,966.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 155,000 shares of the company’s stock after acquiring an additional 147,500 shares during the period. RiverFront Investment Group LLC’s holdings in Palantir Technologies were worth $21,130,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Signature Resources Capital Management LLC acquired a new position in Palantir Technologies during the second quarter worth approximately $25,000. Briaud Financial Planning Inc bought a new position in Palantir Technologies in the 2nd quarter valued at about $27,000. LFA Lugano Financial Advisors SA bought a new stake in Palantir Technologies during the second quarter worth $27,000. Frazier Financial Advisors LLC bought a new position in Palantir Technologies in the second quarter valued at about $28,000. Finally, MTM Investment Management LLC acquired a new stake in Palantir Technologies in the second quarter valued at approximately $31,000. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PLTR. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Palantir Technologies in a research report on Monday, November 17th. Piper Sandler upped their target price on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Morgan Stanley upped their price objective on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Finally, Loop Capital increased their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Five 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 data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $172.28.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 1,973 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $308,281.25. Following the completion of the transaction, the insider owned 413,639 shares in the company, valued at $64,631,093.75. The trade was a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 39,136 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the completion of the transaction, the insider directly owned 592 shares of the company’s stock, valued at approximately $92,500. This represents a 98.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,149,695 shares of company stock worth $186,821,453. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $162.25 on Tuesday. Palantir Technologies Inc. has a 1 year low of $63.40 and a 1 year high of $207.52. The firm has a 50-day moving average of $180.17 and a 200 day moving average of $158.83. The stock has a market cap of $386.71 billion, a P/E ratio of 386.32, a price-to-earnings-growth ratio of 6.00 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last issued 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 for 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 firm’s revenue for the quarter was up 62.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

About Palantir Technologies

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.