Spartan Planning & Wealth Management Invests $628,000 in Palantir Technologies Inc. $PLTR

Key Points

• Spartan Planning & Wealth Management recently invested $628,000 in Palantir Technologies by acquiring 4,607 shares during the second quarter.
• Palantir's quarterly earnings showed a significant beat, reporting $1 billion in revenue and $0.16 EPS, exceeding analyst expectations.
• Recent insider selling included notable transactions by executives, including Jeffrey Buckley and Shyam Sankar, who sold shares valued at over $5 million collectively.

Spartan Planning & Wealth Management purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,607 shares of the company's stock, valued at approximately $628,000.

Several other institutional investors also recently modified their holdings of PLTR. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies during the first quarter worth $25,000. Signature Resources Capital Management LLC acquired a new position in shares of Palantir Technologies during the second quarter worth $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Palantir Technologies during the first quarter worth $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies during the first quarter worth $27,000. Finally, Family Legacy Financial Solutions LLC acquired a new position in shares of Palantir Technologies during the second quarter worth $31,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 0.7%

Shares of PLTR opened at $178.86 on Tuesday. The stock has a market capitalization of $424.32 billion, a P/E ratio of 596.22, a price-to-earnings-growth ratio of 9.91 and a beta of 2.59. The firm's fifty day simple moving average is $166.70 and its two-hundred day simple moving average is $134.65. Palantir Technologies Inc. has a 12 month low of $36.05 and a 12 month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly 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. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business's quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior 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, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Jeffrey Buckley sold 2,803 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total transaction of $440,071.00. Following the transaction, the insider directly owned 50,961 shares of the company's stock, valued at approximately $8,000,877. This represents a 5.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the insider directly owned 702,786 shares of the company's stock, valued at $112,129,506.30. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their price target 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. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 5th. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Citigroup reissued a "neutral" rating and issued a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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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