KMG Fiduciary Partners LLC Takes $1.83 Million Position in Palantir Technologies Inc. $PLTR

Key Points

• KMG Fiduciary Partners LLC has made a new investment of approximately $1.83 million in Palantir Technologies by acquiring 13,391 shares.
• Insider sales in Palantir Technologies have been significant, with 1.6 million shares worth over $248 million sold in the last three months.
• Wall Street analysts have varied opinions on Palantir, with a consensus target price of $138.28 and multiple analysts upgrading their ratings recently.

KMG Fiduciary Partners LLC bought a new stake in shares of 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 13,391 shares of the company's stock, valued at approximately $1,825,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Focus Financial Network Inc. lifted its holdings in shares of Palantir Technologies by 32.3% in the 2nd quarter. Focus Financial Network Inc. now owns 12,286 shares of the company's stock worth $1,675,000 after acquiring an additional 2,997 shares during the last quarter. Sunflower Bank N.A. purchased a new position in shares of Palantir Technologies in the 2nd quarter worth approximately $397,000. Sovran Advisors LLC grew its position in shares of Palantir Technologies by 49.3% in the 2nd quarter. Sovran Advisors LLC now owns 8,142 shares of the company's stock worth $1,138,000 after buying an additional 2,689 shares during the last quarter. Financial Management Network Inc. grew its position in shares of Palantir Technologies by 18.6% in the 2nd quarter. Financial Management Network Inc. now owns 3,402 shares of the company's stock worth $457,000 after buying an additional 534 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in Palantir Technologies by 4.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 70,790 shares of the company's stock worth $9,650,000 after purchasing an additional 3,204 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 21,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $165.95, for a total transaction of $3,484,950.00. Following the completion of the sale, the director directly owned 59,794 shares of the company's stock, valued at $9,922,814.30. This trade represents a 25.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $4,786,500.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,625,634 shares of company stock worth $248,926,404. Corporate insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Mizuho set a $165.00 price objective on shares of Palantir Technologies in a report on Monday. Royal Bank Of Canada increased their target price 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. 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 research report on Tuesday, August 5th. UBS Group restated a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Citigroup reaffirmed a "neutral" rating and set a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four 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 data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average target price of $138.28.

Palantir Technologies Trading Up 3.1%

Shares of NASDAQ PLTR traded up $5.42 on Friday, reaching $182.39. 108,970,930 shares of the company traded hands, compared to its average volume of 60,474,068. The company has a 50 day moving average of $163.32 and a 200 day moving average of $129.92. The stock has a market capitalization of $432.69 billion, a PE ratio of 607.99, a P/E/G ratio of 9.97 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $35.71 and a fifty-two week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same period in the prior year, the business posted $0.09 EPS. The business's 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. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.