Merit Financial Group LLC Raises Stake in Palantir Technologies Inc. $PLTR

Merit Financial Group LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 11.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,422 shares of the company’s stock after buying an additional 16,336 shares during the quarter. Merit Financial Group LLC’s holdings in Palantir Technologies were worth $20,914,000 at the end of the most recent reporting period.

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

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 191,720 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 222,878 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the completion of the sale, the insider directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,591,085 shares of company stock valued at $244,676,722. Company insiders own 9.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group reissued a “neutral” rating and issued a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Palantir Technologies in a research report on Saturday, September 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $140.22.

Palantir Technologies Trading Down 7.5%

NASDAQ PLTR opened at $173.07 on Friday. The company’s 50-day moving average price is $168.90 and its 200-day moving average price is $136.98. The stock has a market cap of $410.58 billion, a PE ratio of 576.92, a PEG ratio of 9.66 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $38.78 and a 12 month high of $190.00.

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