LeConte Wealth Management LLC Raises Stock Position in Palantir Technologies Inc. $PLTR

LeConte Wealth Management LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 55.0% during the second quarter, Holdings Channel reports. The fund owned 6,673 shares of the company’s stock after acquiring an additional 2,369 shares during the quarter. Palantir Technologies makes up approximately 0.6% of LeConte Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. LeConte Wealth Management LLC’s holdings in Palantir Technologies were worth $910,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PLTR. Family Legacy Financial Solutions LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at $31,000. Adirondack Trust Co. increased its stake in Palantir Technologies by 185.0% during the 2nd quarter. Adirondack Trust Co. now owns 285 shares of the company’s stock worth $39,000 after buying an additional 185 shares during the period. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the 1st quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies in the 1st quarter worth about $27,000. Finally, 1248 Management LLC bought a new stake in shares of Palantir Technologies in the 1st quarter worth about $27,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group reissued a “neutral” rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Cantor Fitzgerald boosted 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. Royal Bank Of Canada boosted 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. Wall Street Zen lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a “sell” rating to a “hold” rating and boosted their price target for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Four investment 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $140.22.

Palantir Technologies Stock Down 1.6%

Shares of Palantir Technologies stock opened at $179.56 on Thursday. Palantir Technologies Inc. has a 12-month low of $36.05 and a 12-month high of $190.00. The stock has a market capitalization of $425.98 billion, a P/E ratio of 598.55, a price-to-earnings-growth ratio of 10.29 and a beta of 2.59. The company has a 50-day simple moving average of $165.17 and a 200 day simple moving average of $131.89.

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

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 375,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at approximately $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the transaction, the insider directly 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 disclosure for this sale can be found here. Insiders sold 1,634,634 shares of company stock valued at $250,524,804 in the last 90 days. Company insiders own 9.23% of the company’s stock.

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.