MGO Private Wealth LLC Takes $278,000 Position in Palantir Technologies Inc. $PLTR

Key Points

• MGO Private Wealth LLC has acquired a new stake in Palantir Technologies Inc., purchasing 2,038 shares valued at approximately $278,000 in the second quarter.
• Insiders have recently sold a significant number of shares, with Shyam Sankar selling 30,000 shares for nearly $4.79 million and David A. Glazer selling 81,000 shares for about $12.51 million, indicating a decrease in their ownership.
• Palantir Technologies reported a revenue of $1 billion for the last quarter, surpassing analysts' expectations and reflecting a 48% increase compared to the previous year.

MGO Private Wealth LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,038 shares of the company's stock, valued at approximately $278,000.

A number of other hedge funds have also recently made changes to their positions in PLTR. Revolve Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $450,000. Bison Wealth LLC boosted its position in shares of Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after purchasing an additional 4,667 shares during the period. NBC Securities Inc. boosted its position in shares of Palantir Technologies by 84,775.0% during the 1st quarter. NBC Securities Inc. now owns 3,395 shares of the company's stock worth $286,000 after purchasing an additional 3,391 shares during the period. Beacon Financial Group purchased a new position in shares of Palantir Technologies during the 1st quarter worth approximately $284,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Palantir Technologies by 86.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,333 shares of the company's stock worth $281,000 after purchasing an additional 1,548 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,591,085 shares of company stock valued at $244,676,722. 9.23% of the stock is owned by insiders.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $173.07 on Friday. The firm 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 company's fifty day moving average price is $168.90 and its 200 day moving average price is $136.98.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 EPS 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 business 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 company earned $0.09 earnings per share. The business's revenue was up 48.0% compared to the same quarter last year. 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 EPS for the current year.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a research report on Saturday, September 27th. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their price target for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Citigroup reissued a "neutral" rating and issued a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average 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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