WESPAC Advisors SoCal LLC Has $3.80 Million Holdings in Palantir Technologies Inc. $PLTR

WESPAC Advisors SoCal LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 36.1% during the second quarter, HoldingsChannel reports. The fund owned 27,849 shares of the company’s stock after acquiring an additional 7,381 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Palantir Technologies were worth $3,796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ignite Planners LLC raised its holdings in shares of Palantir Technologies by 0.4% in the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after acquiring an additional 66 shares during the last quarter. Christensen King & Associates Investment Services Inc. raised its holdings in shares of Palantir Technologies by 1.3% in the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock worth $747,000 after acquiring an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. raised its holdings in shares of Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock worth $1,007,000 after acquiring an additional 73 shares during the last quarter. Boomfish Wealth Group LLC raised its holdings in shares of Palantir Technologies by 2.7% in the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock worth $379,000 after acquiring an additional 73 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of Palantir Technologies by 3.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company’s stock worth $329,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In other news, insider Shyam Sankar sold 375,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 702,786 shares of the company’s stock, valued at $106,261,243.20. This represents a 34.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,557,750 shares of company stock worth $239,713,896. 12.93% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PLTR shares. Wall Street Zen lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Royal Bank Of Canada increased their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Tuesday, August 5th. Bank of America increased their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Citigroup reiterated a “neutral” rating and issued a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Palantir Technologies in a research note on Wednesday, October 8th. Five 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $141.28.

Palantir Technologies Trading Up 1.9%

Shares of Palantir Technologies stock opened at $181.59 on Tuesday. Palantir Technologies Inc. has a 12 month low of $40.90 and a 12 month high of $190.00. The business’s fifty day simple moving average is $171.50 and its 200 day simple moving average is $144.42. The firm has a market capitalization of $430.79 billion, a P/E ratio of 605.32, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results 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. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the firm earned $0.09 EPS. The company’s revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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.