Monterey Private Wealth Inc. Invests $227,000 in Palantir Technologies Inc. $PLTR

Monterey Private Wealth Inc. acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 2,692 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp lifted its position in Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after purchasing an additional 64,973 shares during the last quarter. Invesco Ltd. lifted its position in Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Palantir Technologies by 38.5% in 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 last quarter. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company’s stock valued at $1,149,055,000 after buying an additional 571,544 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock valued at $1,126,408,000 after buying an additional 4,748,513 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

Shares of PLTR opened at $156.72 on Thursday. The firm’s 50 day moving average is $154.71 and its 200-day moving average is $122.81. The stock has a market capitalization of $371.79 billion, a P/E ratio of 522.42, a P/E/G ratio of 9.07 and a beta of 2.60. Palantir Technologies Inc. has a 12-month low of $29.31 and a 12-month high of $190.00.

Palantir Technologies (NASDAQ:PLTR) last released its 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. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on PLTR. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Loop Capital raised their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Bank of America lifted their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $136.61.

Insider Activity

In related news, insider Ryan D. Taylor sold 33,335 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the completion of the sale, the insider directly owned 363,755 shares in the company, valued at approximately $49,219,689.05. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 191,720 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the sale, the insider owned 592 shares of the company’s stock, valued at approximately $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,906,783 shares of company stock valued at $282,471,442. 9.23% of the stock is currently owned by insiders.

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.