Kerntke Otto McGlone Wealth Management Group Invests $262,000 in Palantir Technologies Inc. $PLTR

Key Points

• Kerntke Otto McGlone Wealth Management Group has invested approximately $262,000 in Palantir Technologies by purchasing 1,923 shares in the second quarter.
• Insiders of Palantir Technologies have recently sold significant amounts of stock, with one insider selling 375,000 shares for about $56.7 million, reflecting a 34.79% decrease in their ownership.
• Palantir's stock has a market capitalization of $424.93 billion and reported a year-over-year revenue increase of 48% in its latest quarterly earnings.

Kerntke Otto McGlone Wealth Management Group purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,923 shares of the company's stock, valued at approximately $262,000.

A number of other large investors have also recently made changes to their positions in PLTR. Kingstone Capital Partners Texas LLC bought a new stake in shares of Palantir Technologies in the second quarter worth approximately $2,543,888,000. Nuveen LLC bought a new stake in shares of Palantir Technologies in the first quarter worth approximately $520,232,000. Price T Rowe Associates Inc. MD grew its stake in shares of Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of 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 acquiring an additional 4,221,392 shares during the period. Finally, Amundi grew its stake in shares of Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after acquiring an additional 3,815,386 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction on 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 transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. The trade was a 34.79% 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 hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was 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 directly owned 6,432,258 shares in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,634,634 shares of company stock valued at $250,524,804. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $179.12 on Friday. Palantir Technologies Inc. has a 1-year low of $36.05 and a 1-year high of $190.00. The company has a market capitalization of $424.93 billion, a P/E ratio of 597.09, a P/E/G ratio of 10.02 and a beta of 2.59. The firm's 50 day simple moving average is $165.68 and its two-hundred day simple moving average is $132.60.

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 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 business had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The company's revenue for the quarter 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. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLTR. Bank of America lifted their price target on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research note on Tuesday. Loop Capital raised their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $140.22.

Palantir Technologies Company 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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