Westmount Partners LLC Acquires New Shares in Palantir Technologies Inc. $PLTR

Westmount Partners LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the second quarter, Holdings Channel reports. The fund acquired 2,602 shares of the company’s stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mechanics Financial Corp acquired a new position in Palantir Technologies during the 1st quarter worth $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies during the 1st quarter worth $27,000. 1248 Management LLC acquired a new position in Palantir Technologies during the 1st quarter worth $27,000. Richardson Capital Management LLC acquired a new position in Palantir Technologies during the 1st quarter worth $33,000. Finally, Cornerstone Planning Group LLC boosted its position in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock worth $33,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank Of Canada boosted their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “sell” rating to a “hold” rating and upped their price objective for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald upped their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Finally, UBS Group restated a “neutral” rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $138.28.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of the business’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 sale, the insider directly owned 431,169 shares of the company’s stock, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Buckley sold 2,803 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following 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 disclosure for this sale can be found here. Insiders sold 1,625,634 shares of company stock valued at $248,926,404 over the last ninety days. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Down 0.1%

Shares of Palantir Technologies stock opened at $171.21 on Tuesday. The stock’s fifty day moving average is $160.71 and its 200-day moving average is $128.03. The firm has a market capitalization of $406.17 billion, a PE ratio of 570.72, a price-to-earnings-growth ratio of 9.66 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $35.56 and a 12-month high of $190.00.

Palantir Technologies (NASDAQ:PLTR) last announced its 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 company had revenue of $1 billion for 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%.Palantir Technologies’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.