Naviter Wealth Acquires 8,189 Shares in Palantir Technologies

Naviter Wealth LLC has established a new position in Palantir Technologies Inc. (NASDAQ: PLTR) by acquiring 8,189 shares during the second quarter. According to the company’s recent Form 13F filing with the Securities and Exchange Commission, the total value of this acquisition is approximately $1,116,000. The move underscores increasing institutional interest in the data analytics firm, which has seen various investment adjustments from several large investors.

In the first quarter, Mechanics Financial Corp also entered the Palantir market with a new position valued at around $25,000. Other notable investors include Signature Resources Capital Management LLC, which acquired a similar position in the second quarter, and Wealth Preservation Advisors LLC, which invested approximately $27,000 earlier in the year. Additionally, Family Legacy Financial Solutions LLC purchased shares valued at about $31,000 during the same quarter. Overall, institutional investors and hedge funds now own 45.65% of Palantir’s stock.

Several analysts have recently provided updates on Palantir’s stock performance. On August 5, Morgan Stanley set a price target of $155.00 while assigning an “equal weight” rating to the company. Loop Capital followed suit with an upgraded price target of $180.00, maintaining a “buy” rating. Bank of America also raised its price target from $180.00 to $215.00 in a report issued on September 23. Other analysts, including Mizuho and DA Davidson, set price targets of $165.00 and $170.00, respectively. Currently, five analysts rate the stock as a “Buy,” while fifteen have assigned “Hold” ratings, and two have given it a “Sell” rating. As per data from MarketBeat.com, Palantir’s stock has an average rating of “Hold” with an average price target of $141.28.

In terms of insider trading, Jeffrey Buckley, an insider at Palantir, sold 2,803 shares on August 29 at an average price of $157.00, totaling about $440,071.00. Following this transaction, Buckley holds 50,961 shares valued at approximately $8,000,877, marking a 5.21% decrease in his ownership. Similarly, Director Lauren Elaina Friedman Stat sold 800 shares on October 3 at an average price of $186.39, amounting to $149,112.00. After this sale, she owns 62,087 shares valued at around $11,572,395.93, reflecting a 1.27% decrease in her stake. Over the past 90 days, insiders have sold a total of 1,557,750 shares worth $239,713,896. Insiders now hold 12.93% of the company’s shares.

Palantir Technologies’ stock saw a slight increase of 1.4% on Wednesday, opening at $179.74. The company has experienced significant fluctuations over the past year, with a low of $40.36 and a high of $190.00. Currently, Palantir has a market capitalization of $426.40 billion, a P/E ratio of 599.15, and a P/E/G ratio of 9.61. The firm’s 50-day moving average is $171.78, while the 200-day moving average stands at $141.31.

Palantir Technologies last reported its quarterly earnings on August 4, revealing earnings per share (EPS) of $0.16, surpassing analysts’ expectations of $0.14 by $0.02. The company’s revenue for the quarter was approximately $1 billion, exceeding the forecast of $939.29 million. Year-over-year, revenue increased by 48.0%, compared to the previous year’s earnings of $0.09 per share. Looking ahead, Palantir has set guidance for fiscal year 2025 at an EPS of $0.31.

Palantir Technologies, Inc. specializes in developing software platforms that act as central operating systems for various customers. The firm operates in both the Commercial and Government sectors, with the former serving non-government industries and the latter providing services to both U.S. and international government agencies. This strategic focus positions Palantir as a key player in the data analytics landscape.