Merit Financial Group LLC Boosts Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Merit Financial Group LLC increased its stake in Palantir Technologies by 11.9% in Q2, owning 153,422 shares valued at approximately $20.9 million.
• Palantir reported earnings of $0.16 per share on revenue of $1 billion for the last quarter, exceeding analysts' expectations.
• Insiders at Palantir Technologies sold over 1.5 million shares totaling around $245 million in the last three months, while institutional investors now hold 45.65% of the company's stock.

Merit Financial Group LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,422 shares of the company's stock after purchasing an additional 16,336 shares during the period. Merit Financial Group LLC's holdings in Palantir Technologies were worth $20,914,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Signature Resources Capital Management LLC bought a new position in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Family Legacy Financial Solutions LLC bought a new position in shares of Palantir Technologies in the 2nd quarter worth about $31,000. Adirondack Trust Co. increased its stake in shares of Palantir Technologies by 185.0% in the 2nd quarter. Adirondack Trust Co. now owns 285 shares of the company's stock worth $39,000 after acquiring an additional 185 shares in the last quarter. Mechanics Financial Corp bought a new position in shares of Palantir Technologies in the 1st quarter worth about $25,000. Finally, Park Place Capital Corp increased its stake in shares of Palantir Technologies by 48.1% in the 2nd quarter. Park Place Capital Corp now owns 308 shares of the company's stock worth $40,000 after acquiring an additional 100 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Down 7.5%

PLTR opened at $173.07 on Friday. The company has a market cap of $410.58 billion, a price-to-earnings ratio of 576.92, a PEG ratio of 9.66 and a beta of 2.60. The company's 50 day moving average is $168.90 and its 200 day moving average is $136.98. Palantir Technologies Inc. has a 12-month low of $38.78 and a 12-month high of $190.00.

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, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion for 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 firm's revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 375,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at $106,261,243.20. This represents a 34.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. 9.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on PLTR shares. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 5th. Weiss Ratings restated a "buy (b-)" rating on shares of Palantir Technologies in a research note on Saturday, September 27th. Loop Capital raised their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their price objective for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, 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 note on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.

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