Conning Inc. Boosts Holdings in Palantir Technologies Inc. $PLTR

Conning Inc. grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,556 shares of the company’s stock after purchasing an additional 683 shares during the period. Conning Inc.’s holdings in Palantir Technologies were worth $1,575,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PLTR. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies during the first quarter valued at approximately $25,000. Signature Resources Capital Management LLC purchased a new stake in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at approximately $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at approximately $27,000. Finally, Family Legacy Financial Solutions LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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 shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 702,786 shares of the company’s stock, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,591,085 shares of company stock valued at $244,714,146. Company insiders own 9.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Loop Capital raised their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Palantir Technologies in a research report on Wednesday. Finally, The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $140.22.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $175.44 on Friday. The company has a market cap of $416.20 billion, a PE ratio of 584.82, a P/E/G ratio of 10.05 and a beta of 2.60. The company has a fifty day moving average price of $171.32 and a two-hundred day moving average price of $139.72. Palantir Technologies Inc. has a 12 month low of $40.36 and a 12 month high of $190.00.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping 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 quarter in the previous year, the company posted $0.09 earnings per share. The firm’s revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.