Wells Trecaso Financial Group LLC Acquires New Stake in Palantir Technologies Inc. $PLTR

Wells Trecaso Financial Group LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,750 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds also recently bought and sold shares of the company. Christensen King & Associates Investment Services Inc. lifted its position 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 worth $747,000 after buying an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its position 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 worth $1,007,000 after buying an additional 73 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position 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 worth $329,000 after buying an additional 80 shares in the last quarter. Oxinas Partners Wealth Management LLC lifted its position in shares of Palantir Technologies by 2.7% in the second quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company’s stock worth $410,000 after buying an additional 80 shares in the last quarter. Finally, Optima Capital LLC lifted its position in shares of Palantir Technologies by 0.6% in the first quarter. Optima Capital LLC now owns 12,626 shares of the company’s stock worth $1,066,000 after buying an additional 81 shares in the last quarter. Hedge funds and other 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 stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 $106,261,243.20. This represents a 34.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the 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 completion of the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock valued at $244,676,722 over the last 90 days. 9.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Loop Capital upped their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Mizuho set a $165.00 price objective on Palantir Technologies in a research report on Monday, September 15th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Finally, UBS Group restated a “neutral” rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $140.22.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $173.07 on Friday. The business’s 50 day moving average price is $168.90 and its 200-day moving average price is $136.63. Palantir Technologies Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $190.00. The company has a market cap of $410.58 billion, a price-to-earnings ratio of 576.92, a PEG ratio of 10.44 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping 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 firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the business posted $0.09 earnings per share. 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. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

About Palantir Technologies

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.