Fulton Bank N.A. Buys Shares of 2,944 Palantir Technologies Inc. $PLTR

Key Points

• Fulton Bank N.A. purchased 2,944 shares of Palantir Technologies, valued at approximately $401,000, during the second quarter.
• Palantir Technologies reported a 48% year-over-year revenue increase with earnings of $0.16 EPS, exceeding analysts' expectations.
• Insider trades have seen significant sales, with insiders collectively selling 1.6 million shares worth nearly $249 million in the last 90 days.

Fulton Bank N.A. bought 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 bought 2,944 shares of the company's stock, valued at approximately $401,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vista Investment Partners LLC increased its holdings in Palantir Technologies by 2.3% during the second quarter. Vista Investment Partners LLC now owns 9,245 shares of the company's stock valued at $1,260,000 after buying an additional 208 shares during the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in Palantir Technologies during the second quarter valued at approximately $31,000. Cypress Point Wealth Management LLC increased its holdings in Palantir Technologies by 0.3% during the second quarter. Cypress Point Wealth Management LLC now owns 1,233,132 shares of the company's stock valued at $168,101,000 after buying an additional 3,940 shares during the last quarter. Strathmore Capital Advisors Inc. purchased a new stake in Palantir Technologies during the second quarter valued at approximately $2,243,000. Finally, Atticus Wealth Management LLC increased its holdings in Palantir Technologies by 209.0% during the second quarter. Atticus Wealth Management LLC now owns 3,340 shares of the company's stock valued at $455,000 after buying an additional 2,259 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 3.1%

PLTR stock opened at $182.39 on Friday. Palantir Technologies Inc. has a 12 month low of $35.71 and a 12 month high of $190.00. The company has a 50-day moving average price of $163.32 and a 200 day moving average price of $130.19. The stock has a market cap of $432.69 billion, a PE ratio of 607.99, a P/E/G ratio of 10.28 and a beta of 2.59.

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

Analyst Ratings Changes

PLTR has been the subject of a number of research reports. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a report on Tuesday, August 5th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus target price of $138.28.

Insider Buying and Selling

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,803 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider directly owned 50,961 shares of the company's stock, valued at $8,000,877. The trade was a 5.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,625,634 shares of company stock worth $248,926,404 over the last 90 days. Corporate insiders own 9.23% 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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