Prudential Financial Inc. Buys 381,206 Shares of Palantir Technologies Inc. $PLTR

Prudential Financial Inc. increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 27.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,767,797 shares of the company’s stock after buying an additional 381,206 shares during the quarter. Prudential Financial Inc. owned about 0.07% of Palantir Technologies worth $240,986,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PLTR. Vanguard Group Inc. increased its stake in Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares during the period. Truist Financial Corp grew its holdings in shares of Palantir Technologies by 4.2% in the second quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after purchasing an additional 21,809 shares during the last quarter. State of Michigan Retirement System increased its stake in Palantir Technologies by 1.3% in the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after buying an additional 12,300 shares during the period. Presilium Private Wealth LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at about $204,000. Finally, New Century Financial Group LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at about $228,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 0.6%

Shares of NASDAQ:PLTR opened at $154.85 on Friday. The company has a market capitalization of $369.08 billion, a PE ratio of 368.70, a P/E/G ratio of 6.00 and a beta of 2.63. Palantir Technologies Inc. has a 12-month low of $61.37 and a 12-month high of $207.52. The business’s fifty day simple moving average is $180.34 and its 200-day simple moving average is $158.19.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the business posted $0.10 EPS. The firm’s quarterly revenue was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLTR. UBS Group raised their target price on shares of Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada increased their price objective on Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Northland Securities increased their price target on Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Finally, Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $172.28.

Insider Activity

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,803 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares in the company, valued at $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total transaction of $149,112.00. Following the completion of the transaction, the director directly owned 62,087 shares in the company, valued at $11,572,395.93. This represents a 1.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 150,651 shares of company stock valued at $23,892,804 over the last 90 days. 9.23% of the stock is currently owned by corporate insiders.

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.