Advisors Capital Management LLC Has $1.95 Million Stake in Palantir Technologies Inc. $PLTR

Advisors Capital Management LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 334.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,317 shares of the company’s stock after purchasing an additional 11,022 shares during the period. Advisors Capital Management LLC’s holdings in Palantir Technologies were worth $1,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. L & S Advisors Inc bought a new position in Palantir Technologies during the second quarter worth about $767,000. Ignite Planners LLC increased its holdings in Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,364 shares of the company’s stock worth $2,094,000 after buying an additional 68 shares during the last quarter. King Wealth Management Group increased its holdings in shares of Palantir Technologies by 48.8% during the 2nd quarter. King Wealth Management Group now owns 40,456 shares of the company’s stock worth $5,515,000 after acquiring an additional 13,274 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Palantir Technologies by 4.5% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 452,066 shares of the company’s stock valued at $61,639,000 after buying an additional 19,484 shares during the last quarter. Finally, Evolution Wealth Advisors LLC lifted its holdings in shares of Palantir Technologies by 0.9% during the second quarter. Evolution Wealth Advisors LLC now owns 60,095 shares of the company’s stock worth $8,192,000 after buying an additional 535 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PLTR. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Palantir Technologies in a research note on Wednesday, November 5th. The Goldman Sachs Group increased their price target on Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Northland Securities boosted their price objective on Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Cantor Fitzgerald increased their target price on Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, HSBC lifted their price target on Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $172.28.

Palantir Technologies Stock Performance

PLTR stock opened at $174.01 on Friday. Palantir Technologies Inc. has a fifty-two week low of $58.85 and a fifty-two week high of $207.52. The company has a market cap of $414.74 billion, a P/E ratio of 414.32, a price-to-earnings-growth ratio of 6.75 and a beta of 2.63. The stock’s 50 day simple moving average is $180.47 and its 200 day simple moving average is $156.63.

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

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $186.39, for a total value of $149,112.00. Following the transaction, the director directly owned 62,087 shares of the company’s stock, valued at approximately $11,572,395.93. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,527,750 shares of company stock worth $234,463,896. 9.23% of the stock is owned by company insiders.

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.