United Asset Strategies Inc. Acquires New Stake in Palantir Technologies Inc. $PLTR

United Asset Strategies Inc. acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,377 shares of the company’s stock, valued at approximately $1,960,000.

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp increased its stake in Palantir Technologies by 4.2% in the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after purchasing an additional 21,809 shares during the period. State of Michigan Retirement System raised its holdings in Palantir Technologies by 1.3% during the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock valued at $127,923,000 after buying an additional 12,300 shares during the last quarter. Presilium Private Wealth LLC bought a new stake in Palantir Technologies in the 2nd quarter worth $204,000. New Century Financial Group LLC purchased a new position in shares of Palantir Technologies in the second quarter valued at about $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock valued at $984,786,000 after purchasing an additional 1,135,841 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 375,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David A. Glazer sold 81,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,527,750 shares of company stock valued at $234,463,896 in the last 90 days. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PLTR. HSBC lifted their price target on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Jefferies Financial Group reissued an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. UBS Group raised their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Cantor Fitzgerald upped their target price on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Daiwa Capital Markets raised their target price on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $173.45.

Palantir Technologies Stock Performance

PLTR stock opened at $190.96 on Wednesday. The firm has a 50 day moving average price of $179.15 and a 200-day moving average price of $155.63. Palantir Technologies Inc. has a 52-week low of $58.53 and a 52-week high of $207.52. The firm has a market capitalization of $453.02 billion, a price-to-earnings ratio of 454.68, a PEG ratio of 7.51 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. Palantir Technologies’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 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 fiscal 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.