Legacy Financial Group Inc. Trims Stake in Palantir Technologies Inc. $PLTR

Legacy Financial Group Inc. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 28.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,669 shares of the company’s stock after selling 1,439 shares during the quarter. Legacy Financial Group Inc.’s holdings in Palantir Technologies were worth $500,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PLTR. Kingstone Capital Partners Texas LLC bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $2,543,888,000. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 3.6% during the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. Nuveen LLC bought a new position in shares of Palantir Technologies in the first quarter worth approximately $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 purchasing an additional 4,748,513 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction dated 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 owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction that occurred on 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 sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 150,651 shares of company stock worth $23,892,804 in the last 90 days. 9.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLTR. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Loop Capital upped their price objective on Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. CICC Research lifted their target price on Palantir Technologies from $128.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Mizuho lifted their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Northland Securities upped their target price on shares of Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $172.28.

Palantir Technologies Price Performance

Shares of PLTR opened at $154.85 on Friday. The business’s 50 day simple moving average is $180.34 and its 200-day simple moving average is $158.19. Palantir Technologies Inc. has a 1 year low of $61.37 and a 1 year high of $207.52. The stock has a market capitalization of $369.08 billion, a price-to-earnings ratio of 368.70, a price-to-earnings-growth ratio of 6.00 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. Palantir Technologies’s quarterly revenue was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.