Fortitude Advisory Group L.L.C. Takes Position in Palantir Technologies Inc. $PLTR

Key Points

• Fortitude Advisory Group L.L.C. has initiated a new position in Palantir Technologies, acquiring 2,230 shares valued at approximately $304,000 during the second quarter.
• Institutional investors collectively own 45.65% of Palantir's stock, with significant investment increases from firms like Northern Trust Corp and Goldman Sachs Group Inc.
• Palantir's stock has experienced a 7.5% decline, currently trading at around $173.07, while it reported earnings of $0.16 per share for the last quarter, exceeding analysts' expectations.

Fortitude Advisory Group L.L.C. bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,230 shares of the company's stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp lifted its position in Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock worth $1,650,310,000 after purchasing an additional 64,973 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Palantir Technologies in the second quarter worth $2,543,888,000. Invesco Ltd. lifted its position in Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. lifted its position in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after purchasing an additional 571,544 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction dated 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 owned 307,470 shares in the company, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 222,878 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 6,432,258 shares in the company, valued at approximately $973,650,893.46. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Down 7.5%

Shares of PLTR stock opened at $173.07 on Friday. Palantir Technologies Inc. has a 12 month low of $38.78 and a 12 month high of $190.00. The firm has a market cap of $410.58 billion, a price-to-earnings ratio of 576.92, a PEG ratio of 9.66 and a beta of 2.60. The stock has a 50-day moving average price of $168.90 and a 200 day moving average price of $136.98.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $0.09 earnings per share. The company'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. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group reaffirmed a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and increased their price objective for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Royal Bank Of Canada increased their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Wall Street Zen lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, DA Davidson set a $170.00 price objective on Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average target price of $140.22.

Palantir Technologies Profile

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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