Clay Northam Wealth Management LLC Buys 1,035 Shares of Palantir Technologies Inc. $PLTR

Clay Northam Wealth Management LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,967 shares of the company’s stock after purchasing an additional 1,035 shares during the quarter. Palantir Technologies accounts for about 1.1% of Clay Northam Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Clay Northam Wealth Management LLC’s holdings in Palantir Technologies were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PLTR. Kingstone Capital Partners Texas LLC purchased a new position in shares of Palantir Technologies in the second quarter worth $2,543,888,000. Nuveen LLC purchased a new position in shares of Palantir Technologies in the first quarter worth $520,232,000. Price T Rowe Associates Inc. MD increased its stake in shares of Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock worth $1,126,408,000 after buying an additional 4,748,513 shares during the period. Goldman Sachs Group Inc. increased its stake 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 during the period. Finally, Amundi increased its stake in shares of Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company’s stock worth $887,857,000 after buying an additional 3,815,386 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 0.9%

Shares of NASDAQ PLTR opened at $177.57 on Friday. The firm’s 50-day moving average price is $166.16 and its 200-day moving average price is $133.63. The company has a market cap of $421.26 billion, a PE ratio of 591.92, a PEG ratio of 9.91 and a beta of 2.59. Palantir Technologies Inc. has a 52-week low of $36.05 and a 52-week high of $190.00.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a “sell” rating to a “hold” rating and upped their price objective for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Loop Capital upped their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $140.22.

Insider Transactions at Palantir Technologies

In other news, 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 value of $29,020,656.40. Following the transaction, the insider owned 592 shares in the company, valued at $89,611.04. This represents a 99.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 375,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the sale, the insider owned 702,786 shares in the company, valued at approximately $106,261,243.20. The trade was a 34.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,634,634 shares of company stock worth $250,524,804. 9.23% of the stock is currently owned by corporate insiders.

About Palantir Technologies

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.