Prosperity Financial Group Inc. Sells 1,032 Shares of Palantir Technologies Inc. $PLTR

Prosperity Financial Group Inc. lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,061 shares of the company’s stock after selling 1,032 shares during the period. Palantir Technologies comprises about 1.9% of Prosperity Financial Group Inc.’s portfolio, making the stock its 11th biggest position. Prosperity Financial Group Inc.’s holdings in Palantir Technologies were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PLTR. Mechanics Financial Corp bought a new position in Palantir Technologies during the 1st quarter worth approximately $25,000. Signature Resources Capital Management LLC acquired a new position in Palantir Technologies in the second quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new stake in Palantir Technologies during the first quarter valued at $27,000. 1248 Management LLC acquired a new stake in Palantir Technologies during the 1st quarter worth about $27,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth about $28,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $175.49 on Thursday. The stock has a market cap of $416.32 billion, a price-to-earnings ratio of 584.99, a PEG ratio of 9.84 and a beta of 2.60. Palantir Technologies Inc. has a fifty-two week low of $40.90 and a fifty-two week high of $190.00. The firm’s 50-day simple moving average is $171.21 and its 200 day simple moving average is $144.89.

Palantir Technologies (NASDAQ:PLTR) last issued 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 return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the company posted $0.09 EPS. The company’s revenue for the quarter 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. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,557,750 shares of company stock worth $239,713,896. 9.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Cantor Fitzgerald raised their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a “sell” rating to a “hold” rating and raised their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Piper Sandler increased their target price on shares of Palantir Technologies from $182.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, The Goldman Sachs Group raised their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $141.28.

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.