Sovereign Financial Group Inc. Purchases 2,732 Shares of Palantir Technologies Inc. $PLTR

Sovereign Financial Group Inc. increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 79.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,159 shares of the company’s stock after buying an additional 2,732 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Palantir Technologies were worth $840,000 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 the company. Ignite Planners LLC lifted its position in Palantir Technologies by 0.4% in the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after buying an additional 66 shares during the last quarter. Christensen King & Associates Investment Services Inc. lifted its position in Palantir Technologies by 1.3% in the 2nd 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 during the last quarter. McGlone Suttner Wealth Management Inc. lifted its position in Palantir Technologies by 1.0% in the 2nd 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 during the last quarter. Boomfish Wealth Group LLC lifted its position in Palantir Technologies by 2.7% in the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock worth $379,000 after buying an additional 73 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in Palantir Technologies by 3.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company’s stock worth $329,000 after buying an additional 80 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. Loop Capital boosted their target price on Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. UBS Group reaffirmed a “neutral” rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. The Goldman Sachs Group lifted 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. Piper Sandler set a $182.00 price target on Palantir Technologies in a research note on Tuesday, August 5th. Finally, Mizuho set a $165.00 price target on Palantir Technologies in a research note on Monday, September 15th. Five investment 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $140.22.

Insider Activity

In other news, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,591,085 shares of company stock valued at $244,714,146. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Performance

PLTR opened at $175.44 on Friday. Palantir Technologies Inc. has a 52-week low of $40.36 and a 52-week high of $190.00. The stock has a market capitalization of $416.20 billion, a PE ratio of 584.82, a price-to-earnings-growth ratio of 9.51 and a beta of 2.60. The stock’s 50 day moving average price is $171.32 and its 200-day moving average price is $140.05.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (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 firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The business’s revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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.