Commonwealth Equity Services LLC Buys 183,707 Shares of Palantir Technologies Inc. $PLTR

by · The Markets Daily

Commonwealth Equity Services LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 11.7% during the second quarter, HoldingsChannel reports. The firm owned 1,755,061 shares of the company’s stock after acquiring an additional 183,707 shares during the period. Commonwealth Equity Services LLC’s holdings in Palantir Technologies were worth $239,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. SouthState Corp raised its holdings in shares of Palantir Technologies by 21.3% in the 2nd quarter. SouthState Corp now owns 8,694 shares of the company’s stock worth $1,185,000 after purchasing an additional 1,529 shares during the period. Andra AP fonden raised its holdings in shares of Palantir Technologies by 79.2% in the 2nd quarter. Andra AP fonden now owns 341,074 shares of the company’s stock worth $46,495,000 after purchasing an additional 150,700 shares during the period. DDFG Inc bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $281,000. Resona Asset Management Co. Ltd. grew its stake in Palantir Technologies by 7.2% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 699,763 shares of the company’s stock valued at $94,790,000 after buying an additional 46,878 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Palantir Technologies during the 2nd quarter valued at $180,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $187.90 on Thursday. Palantir Technologies Inc. has a 52-week low of $51.61 and a 52-week high of $207.52. The firm has a fifty day moving average of $176.97 and a 200 day moving average of $152.92. The firm has a market capitalization 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 (NASDAQ:PLTR – Get Free Report) last announced its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider David A. Glazer sold 81,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,527,750 shares of company stock valued at $234,463,896 in the last three months. 9.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PLTR shares. UBS Group boosted their target price on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday. Wall Street Zen cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Bank of America boosted their target price on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday. Finally, Morgan Stanley boosted 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. Five equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $169.44.

Get Our Latest Research Report on Palantir Technologies

Palantir Technologies Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR – Free Report).