Palantir Technologies Inc. $PLTR is MFG Wealth Management Inc.’s 3rd Largest Position

MFG Wealth Management Inc. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 36.0% in the second quarter, Holdings Channel.com reports. The firm owned 28,904 shares of the company’s stock after acquiring an additional 7,644 shares during the quarter. Palantir Technologies comprises about 3.3% of MFG Wealth Management Inc.’s portfolio, making the stock its 3rd largest position. MFG Wealth Management Inc.’s holdings in Palantir Technologies were worth $3,940,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies during the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Palantir Technologies during the first quarter worth about $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter worth approximately $27,000. Cornerstone Planning Group LLC boosted its holdings in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock worth $33,000 after purchasing an additional 185 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at about $33,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $171.21 on Tuesday. Palantir Technologies Inc. has a twelve month low of $35.56 and a twelve month high of $190.00. The stock has a market cap of $406.17 billion, a PE ratio of 570.72, a PEG ratio of 9.66 and a beta of 2.59. The firm has a 50-day simple moving average of $160.71 and a 200 day simple moving average of $128.03.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping 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 company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter 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. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 21,000 shares of Palantir Technologies stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $165.95, for a total value of $3,484,950.00. Following the completion of the sale, the director directly owned 59,794 shares in the company, valued at $9,922,814.30. This trade represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Buckley sold 2,803 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $157.00, for a total transaction of $440,071.00. Following the sale, the insider owned 50,961 shares of the company’s stock, valued at $8,000,877. The trade was a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,625,634 shares of company stock worth $248,926,404 over the last 90 days. Company insiders own 9.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PLTR shares. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 5th. Bank of America increased their price objective on Palantir Technologies from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $138.28.

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.