Kingsman Wealth Management Inc. Grows Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Kingsman Wealth Management Inc. increased its stake in Palantir Technologies Inc. by 56.6% in Q2, acquiring 19,404 shares, bringing its total to 53,693 shares valued at approximately $7.3 million.
• Insider transactions include Director Lauren Elaina Friedman Stat selling 9,000 shares for about $1.6 million, reducing her ownership by 15.05%.
• Palantir Technologies reported a 48% increase in revenue year-over-year, achieving $1 billion for the quarter and beating analysts' earnings estimates.

Kingsman Wealth Management Inc. raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 56.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,693 shares of the company's stock after acquiring an additional 19,404 shares during the quarter. Palantir Technologies comprises 4.6% of Kingsman Wealth Management Inc.'s holdings, making the stock its 7th largest position. Kingsman Wealth Management Inc.'s holdings in Palantir Technologies were worth $7,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Christensen King & Associates Investment Services Inc. increased its holdings in shares of Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock worth $747,000 after purchasing an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. increased its holdings in shares of Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock worth $1,007,000 after purchasing an additional 73 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in shares of Palantir Technologies by 3.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock worth $329,000 after purchasing an additional 80 shares during the period. Oxinas Partners Wealth Management LLC increased its holdings in shares of Palantir Technologies by 2.7% during the second quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company's stock worth $410,000 after purchasing an additional 80 shares during the period. Finally, Optima Capital LLC increased its holdings in shares of Palantir Technologies by 0.6% during the first quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after purchasing an additional 81 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,000 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 50,794 shares in the company, valued at $9,021,014.40. This trade represents a 15.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at $112,129,506.30. This represents a 4.09% 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. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 0.2%

NASDAQ PLTR opened at $179.12 on Friday. The firm has a market capitalization of $424.93 billion, a price-to-earnings 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 200 day simple moving average is $132.60. Palantir Technologies Inc. has a 1 year low of $36.05 and a 1 year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its 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. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the business posted $0.09 earnings per share. The company'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. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent research reports. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Royal Bank Of Canada raised their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and increased their price target for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Four 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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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