2,279 Shares in Palantir Technologies Inc. $PLTR Acquired by Worth Financial Advisory Group LLC

Key Points

• Worth Financial Advisory Group LLC acquired 2,279 shares of Palantir Technologies, valued at approximately $311,000, signaling growing institutional interest in the company.
• Insider Shyam Sankar sold 375,000 shares for $56.7 million, reducing his ownership by 34.79%.
• Palantir Technologies reported Q2 earnings of $0.16 per share with revenue of $1 billion, surpassing analysts' expectations and reflecting a 48% year-over-year revenue growth.

Worth Financial Advisory Group LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,279 shares of the company's stock, valued at approximately $311,000.

Several other institutional investors also recently made changes to their positions in the stock. Mechanics Financial Corp purchased a new stake in Palantir Technologies during the 1st quarter worth $25,000. Signature Resources Capital Management LLC purchased a new stake in Palantir Technologies during the 2nd quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new stake in Palantir Technologies during the 1st quarter worth $27,000. 1248 Management LLC purchased a new position in Palantir Technologies in the 1st quarter valued at about $27,000. Finally, Family Legacy Financial Solutions LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at about $31,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 375,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at approximately $106,261,243.20. This represents a 34.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the completion of the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,634,634 shares of company stock worth $250,524,804 in the last quarter. 9.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of analyst reports. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $140.22.

Palantir Technologies Trading Down 0.9%

NASDAQ PLTR opened at $177.57 on Friday. Palantir Technologies Inc. has a 52 week low of $36.05 and a 52 week high of $190.00. The stock has a market cap of $421.26 billion, a price-to-earnings ratio of 591.92, a price-to-earnings-growth ratio of 9.91 and a beta of 2.59. The company has a 50-day moving average price of $166.16 and a two-hundred day moving average price of $133.63.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same quarter in the prior year, the firm earned $0.09 EPS. Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share 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.

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