Wealth Alliance Purchases New Shares in Palantir Technologies Inc. (NYSE:PLTR)

Wealth Alliance acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,755 shares of the company’s stock, valued at approximately $247,000.

Several other large investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the 2nd quarter valued at $25,000. West Paces Advisors Inc. lifted its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC increased its position in shares of Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after purchasing an additional 1,065 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the transaction, the insider now owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Insiders sold 5,383,238 shares of company stock worth $190,231,672 over the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.0 %

Shares of PLTR stock opened at $37.20 on Friday. The firm has a market capitalization of $83.31 billion, a price-to-earnings ratio of 310.03 and a beta of 2.72. The business’s 50-day moving average price is $30.57 and its 200-day moving average price is $25.90. Palantir Technologies Inc. has a 12 month low of $13.68 and a 12 month high of $37.35.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PLTR shares. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Palantir Technologies in a research report on Monday, September 9th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Bank of America raised their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Argus began coverage on Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.79.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.