Prosperity Wealth Management Inc. Boosts Stake in Palantir Technologies Inc. $PLTR

Prosperity Wealth Management Inc. lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 17.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,238 shares of the company’s stock after purchasing an additional 3,585 shares during the period. Palantir Technologies accounts for approximately 1.2% of Prosperity Wealth Management Inc.’s holdings, making the stock its 16th largest position. Prosperity Wealth Management Inc.’s holdings in Palantir Technologies were worth $3,304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies in the 1st quarter worth $25,000. Signature Resources Capital Management LLC bought a new position in Palantir Technologies in the 2nd quarter worth $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies in the 1st quarter worth $27,000. 1248 Management LLC bought a new position in Palantir Technologies in the 1st quarter worth $27,000. Finally, Briaud Financial Planning Inc bought a new position in Palantir Technologies in the 2nd quarter worth $27,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 3.0%

Shares of Palantir Technologies stock opened at $200.47 on Friday. The firm has a market cap of $475.58 billion, a price-to-earnings ratio of 668.26, a PEG ratio of 10.87 and a beta of 2.60. The business has a 50-day moving average price of $174.75 and a 200-day moving average price of $150.78. Palantir Technologies Inc. has a twelve month low of $40.90 and a twelve month high of $204.18.

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

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $973,650,893.46. This trade represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction dated Friday, September 5th. The shares were 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. The trade was a 10.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,557,750 shares of company stock worth $239,713,896 in the last quarter. Company insiders own 9.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Loop Capital upped their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Piper Sandler upped their target price on shares of Palantir Technologies from $182.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. 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, Cantor Fitzgerald raised their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Five 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $142.00.

About Palantir Technologies

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.