Elite Wealth Management Inc. Has $3.62 Million Stake in Palantir Technologies Inc. $PLTR

Elite Wealth Management Inc. lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 66.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,533 shares of the company’s stock after selling 52,293 shares during the quarter. Palantir Technologies accounts for 1.2% of Elite Wealth Management Inc.’s holdings, making the stock its 10th biggest holding. Elite Wealth Management Inc.’s holdings in Palantir Technologies were worth $3,617,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Northern Trust Corp increased its position in shares of Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after purchasing an additional 64,973 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $2,543,888,000. Invesco Ltd. increased its position in shares of Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company’s stock valued at $1,149,055,000 after purchasing an additional 571,544 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.0%

Shares of NASDAQ:PLTR opened at $185.47 on Friday. Palantir Technologies Inc. has a 52-week low of $40.36 and a 52-week high of $190.00. The stock has a market cap of $440.00 billion, a P/E ratio of 618.25, a price-to-earnings-growth ratio of 9.95 and a beta of 2.60. The business’s 50 day moving average is $170.89 and its 200 day moving average is $139.18.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Palantir Technologies’s revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of a number of analyst reports. Mizuho set a $165.00 target price on Palantir Technologies in a research note on Monday, September 15th. Piper Sandler set a $182.00 target price on Palantir Technologies in a research note on Tuesday, August 5th. Cantor Fitzgerald upped their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada upped their target price on Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Tuesday, August 5th. Finally, DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $140.22.

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider owned 431,169 shares in the company, valued at $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the sale, the insider owned 702,786 shares of the company’s stock, valued at approximately $106,261,243.20. This represents a 34.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock valued at $244,714,146 over the last 90 days. 9.23% of the stock is owned by insiders.

Palantir Technologies Company 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.