RMG Wealth Management LLC Makes New Investment in Palantir Technologies Inc. $PLTR

RMG Wealth Management LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the second quarter, HoldingsChannel reports. The institutional investor purchased 978 shares of the company’s stock, valued at approximately $133,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Christensen King & Associates Investment Services Inc. boosted its holdings in Palantir Technologies by 1.3% in the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock worth $747,000 after buying an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. lifted its position in shares of Palantir Technologies by 1.0% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock valued at $1,007,000 after acquiring an additional 73 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of Palantir Technologies by 3.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company’s stock worth $329,000 after acquiring an additional 80 shares during the period. Oxinas Partners Wealth Management LLC grew its position in shares of Palantir Technologies by 2.7% during the second quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company’s stock worth $410,000 after purchasing an additional 80 shares in the last quarter. Finally, Optima Capital LLC raised its stake in Palantir Technologies by 0.6% during the 1st quarter. Optima Capital LLC now owns 12,626 shares of the company’s stock valued at $1,066,000 after purchasing an additional 81 shares during the period. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup reissued a “neutral” rating and issued a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 5th. Mizuho set a $165.00 price objective on Palantir Technologies in a research report on Monday, September 15th. Bank of America boosted their target price on Palantir Technologies from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Finally, Loop Capital increased their price target on Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $140.22.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares of the company’s stock, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 222,878 shares of the business’s stock in a transaction 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 in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,591,085 shares of company stock worth $244,676,722. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 3.7%

Shares of NASDAQ PLTR opened at $179.53 on Tuesday. Palantir Technologies Inc. has a 12-month low of $38.78 and a 12-month high of $190.00. The firm’s 50-day moving average price is $169.33 and its 200-day moving average price is $137.95. The stock has a market capitalization of $425.91 billion, a price-to-earnings ratio of 598.45, a P/E/G ratio of 9.66 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.