Russell Investments Group Ltd. Purchases 25,416 Shares of Palantir Technologies Inc. $PLTR

Russell Investments Group Ltd. increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 849,135 shares of the company’s stock after purchasing an additional 25,416 shares during the quarter. Russell Investments Group Ltd.’s holdings in Palantir Technologies were worth $115,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PLTR. Accuvest Global Advisors grew its position in shares of Palantir Technologies by 0.7% in the 2nd quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock worth $1,232,000 after buying an additional 63 shares during the last quarter. Ignite Planners LLC raised its holdings in shares of Palantir Technologies by 0.4% during 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 in the last quarter. Christensen King & Associates Investment Services Inc. lifted its stake in 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 acquiring an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. boosted its holdings in 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 in the last quarter. Finally, Boomfish Wealth Group LLC boosted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 308,635 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the transaction, the insider directly owned 592 shares of the company’s stock, valued at $97,082.08. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 359,325 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $58,925,706.75. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at $1,054,825,989.42. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,149,695 shares of company stock worth $186,821,453 in the last three months. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $165.77 on Thursday. The company has a market capitalization of $395.10 billion, a price-to-earnings ratio of 394.70, a price-to-earnings-growth ratio of 6.34 and a beta of 2.63. Palantir Technologies Inc. has a one year low of $63.40 and a one year high of $207.52. The company’s 50-day moving average is $179.98 and its 200 day moving average is $159.20.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) 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 business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America upped their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Daiwa Capital Markets increased their price target on shares of Palantir Technologies from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of Palantir Technologies in a report on Monday, November 17th. Robert W. Baird upped their target price on Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, HSBC increased their target price on Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $172.28.

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.