Covenant Asset Management LLC Acquires 9,146 Shares of Palantir Technologies Inc. $PLTR

Covenant Asset Management LLC grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 228.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,155 shares of the company’s stock after purchasing an additional 9,146 shares during the period. Covenant Asset Management LLC’s holdings in Palantir Technologies were worth $1,793,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PLTR. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth $450,000. Bison Wealth LLC increased its holdings in shares of Palantir Technologies by 37.4% in the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after purchasing an additional 4,667 shares in the last quarter. Moody National Bank Trust Division bought a new stake in shares of Palantir Technologies in the 1st quarter worth $210,000. GAMMA Investing LLC increased its holdings in shares of Palantir Technologies by 14,786.8% in the 1st quarter. GAMMA Investing LLC now owns 1,911,913 shares of the company’s stock worth $161,365,000 after purchasing an additional 1,899,070 shares in the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of Palantir Technologies by 149.2% in the 1st quarter. Rothschild Investment LLC now owns 21,068 shares of the company’s stock worth $1,778,000 after purchasing an additional 12,614 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider owned 592 shares in the company, valued at $89,611.04. The trade was a 99.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,634,634 shares of company stock valued at $250,524,804. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $177.57 on Monday. The company has a market capitalization of $421.26 billion, a PE ratio of 591.92, a price-to-earnings-growth ratio of 9.91 and a beta of 2.59. The business’s fifty day moving average is $166.16 and its 200 day moving average is $134.01. Palantir Technologies Inc. has a fifty-two week low of $36.05 and a fifty-two week high of $190.00.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same period in the previous year, the business earned $0.09 earnings per share. The business’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. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PLTR shares. The Goldman Sachs Group raised their price target on Palantir Technologies from $90.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “sell” rating to a “hold” rating and raised their price target for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Royal Bank Of Canada raised their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 5th. Finally, Loop Capital raised their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.22.

Palantir Technologies Company 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.