Forefront Wealth Management Inc. Takes Position in Palantir Technologies Inc. $PLTR

Key Points

• Forefront Wealth Management Inc. acquired a new stake in Palantir Technologies, purchasing 1,660 shares valued at approximately $226,000.
• Analysts have mixed ratings on Palantir, with four ratings of Buy, fifteen Hold ratings, and two Sell ratings; the consensus price target stands at $140.22.
• Palantir reported a 48.0% increase in revenue year-over-year, with Q2 earnings of $0.16 per share exceeding analysts' expectations.

Forefront Wealth Management Inc. acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,660 shares of the company's stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies during the first quarter worth $25,000. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies in the second quarter worth $25,000. Wealth Preservation Advisors LLC acquired a new position in Palantir Technologies during the first quarter worth $27,000. 1248 Management LLC bought a new position in Palantir Technologies during the first quarter valued at about $27,000. Finally, Family Legacy Financial Solutions LLC bought a new position in Palantir Technologies during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PLTR. Bank of America increased their price objective on Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Loop Capital boosted their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a report 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 research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $140.22.

Palantir Technologies Trading Down 0.9%

Shares of Palantir Technologies stock opened at $177.57 on Monday. Palantir Technologies Inc. has a 1 year low of $36.05 and a 1 year high of $190.00. The company's fifty day simple moving average is $166.16 and its 200-day simple moving average is $134.01. The company has a market cap of $421.26 billion, a price-to-earnings ratio of 591.92, a PEG ratio of 9.91 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during 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 business's revenue was up 48.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the sale, the insider owned 50,961 shares of the company's stock, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,000 shares of the company's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $177.60, for a total value of $1,598,400.00. Following the completion of the transaction, the director owned 50,794 shares of the company's stock, valued at $9,021,014.40. The trade was a 15.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,634,634 shares of company stock valued at $250,524,804 over the last quarter. Company insiders own 12.93% of the company's stock.

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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