West Tower Group LLC Acquires Shares of 1,500 Palantir Technologies Inc. $PLTR

West Tower Group LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,500 shares of the company’s stock, valued at approximately $204,000.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PLTR. Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Citigroup reaffirmed a “neutral” rating and issued a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. 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 note on Wednesday, August 6th. Finally, Piper Sandler raised their price target 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. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $141.28.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $178.15 on Monday. Palantir Technologies Inc. has a fifty-two week low of $40.90 and a fifty-two week high of $190.00. The stock has a market capitalization of $422.63 billion, a P/E ratio of 593.85, a P/E/G ratio of 9.66 and a beta of 2.60. The company’s 50-day simple moving average is $171.52 and its 200-day simple moving average is $143.67.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly 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 business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. During the same period last year, the business 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. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares in the company, valued at $8,000,877. This trade represents a 5.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares of the company’s stock, valued at $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,557,750 shares of company stock worth $239,713,896 over the last ninety days. Company insiders own 12.93% of the company’s stock.

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.