Marietta Wealth Management LLC Takes $275,000 Position in Palantir Technologies Inc. $PLTR

Key Points

• Marietta Wealth Management LLC has invested approximately $275,000 in Palantir Technologies by acquiring 2,020 shares during the second quarter.
• Palantir's stock has seen recent insider selling, with Director Lauren Elaina Friedman Stats and insider David A. Glazer selling significant shares, decreasing their holdings by 15.05% and 15.82%, respectively.
• Despite the recent stock activity, Palantir Technologies reported a strong quarterly earnings with a net margin of 22.18% and a 48.0% revenue increase compared to the previous year.

Marietta Wealth Management LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,020 shares of the company's stock, valued at approximately $275,000.

Other hedge funds also recently bought and sold shares of the company. Signature Resources Capital Management LLC acquired a new stake in Palantir Technologies in the second quarter worth $25,000. Family Legacy Financial Solutions LLC acquired a new stake in Palantir Technologies in the second quarter worth $31,000. Adirondack Trust Co. raised its holdings in Palantir Technologies by 185.0% in the second quarter. Adirondack Trust Co. now owns 285 shares of the company's stock worth $39,000 after purchasing an additional 185 shares during the period. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the first quarter worth $25,000. Finally, Park Place Capital Corp raised its holdings in Palantir Technologies by 48.1% in the second quarter. Park Place Capital Corp now owns 308 shares of the company's stock worth $40,000 after purchasing an additional 100 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 9,000 shares of the company'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 transaction of $1,598,400.00. Following the completion of the sale, the director owned 50,794 shares of the company's stock, valued at approximately $9,021,014.40. This represents a 15.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider directly owned 431,169 shares of the company's stock, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,591,085 shares of company stock worth $244,676,722 in the last 90 days. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Down 7.5%

NASDAQ PLTR opened at $173.07 on Friday. The company has a market capitalization of $410.58 billion, a P/E ratio of 576.92, a P/E/G ratio of 9.66 and a beta of 2.60. Palantir Technologies Inc. has a 12-month low of $38.78 and a 12-month high of $190.00. The firm has a 50-day moving average price of $168.90 and a two-hundred day moving average price of $136.98.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PLTR shares. UBS Group restated a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their price objective for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $140.22.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.