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Wedge Capital Management L L P NC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 3.7% in the second quarter, HoldingsChannel reports. The fund owned 3,776 shares of the company’s stock after selling 146 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Palantir Technologies were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Family Legacy Financial Solutions LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at $31,000. Adirondack Trust Co. grew its position in shares of Palantir Technologies by 185.0% during the 2nd quarter. Adirondack Trust Co. now owns 285 shares of the company’s stock valued at $39,000 after acquiring an additional 185 shares during the period. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the 1st quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at $27,000. Finally, 1248 Management LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at $27,000. Institutional investors own 45.65% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. UBS Group reissued a “neutral” rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Citigroup reaffirmed a “neutral” rating and issued a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada upped their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an “underperform” rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $140.22.
Get Our Latest Research Report on PLTR
Insiders Place Their Bets
In other Palantir Technologies news, insider Stephen Andrew Cohen sold 191,720 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the completion of the transaction, the insider owned 592 shares of the company’s stock, valued at approximately $89,611.04. This trade represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,634,634 shares of company stock valued at $250,524,804. Corporate insiders own 12.93% of the company’s stock.
Palantir Technologies Trading Up 1.8%
NASDAQ PLTR opened at $182.55 on Wednesday. The company has a fifty day simple moving average of $164.60 and a two-hundred day simple moving average of $131.56. The stock has a market cap of $433.07 billion, a P/E ratio of 608.52, a P/E/G ratio of 10.11 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $36.05 and a 12-month high of $190.00.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share 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.
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