Wealthedge Investment Advisors LLC Purchases New Position in Palantir Technologies Inc. $PLTR

Wealthedge Investment Advisors LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the second quarter, Holdings Channel reports. The firm purchased 8,871 shares of the company’s stock, valued at approximately $1,209,000.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $3,307,457,000. Kingstone Capital Partners Texas LLC acquired a new position in Palantir Technologies during the second quarter worth $2,543,888,000. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 3.6% during the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Palantir Technologies during the first quarter worth about $520,232,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PLTR shares. Robert W. Baird lifted their price objective on Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Daiwa Capital Markets lifted their price target on Palantir Technologies from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Citigroup increased their price objective on Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Morgan Stanley raised their price objective on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Finally, Northland Securities upped their target price on shares of Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $172.28.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 308,635 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the completion of the sale, the insider owned 592 shares in the company, valued at $97,082.08. This trade represents a 99.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Glazer sold 81,000 shares of Palantir Technologies 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 sale, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,146,892 shares of company stock valued at $186,381,382 over the last ninety days. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $168.44 on Monday. The stock’s fifty day moving average is $179.48 and its two-hundred day moving average is $160.03. The firm has a market capitalization of $401.46 billion, a P/E ratio of 401.05, a price-to-earnings-growth ratio of 6.53 and a beta of 2.63. Palantir Technologies Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued 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 business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.