McAlister Sweet & Associates Inc. Takes Position in Palantir Technologies Inc. $PLTR

Key Points

• McAlister Sweet & Associates Inc. has acquired 6,700 shares of Palantir Technologies, valued at approximately $913,000, making it the institutional investor's 16th largest position.
• Several other institutional investors have also increased or initiated positions in Palantir shares, with 45.65% of the stock now owned by institutional investors and hedge funds.
• Palantir's stock recently saw a price increase of 4.3%, and the company reported a strong earnings performance with a 48.0% year-over-year revenue growth.

McAlister Sweet & Associates Inc. purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,700 shares of the company's stock, valued at approximately $913,000. Palantir Technologies accounts for about 0.9% of McAlister Sweet & Associates Inc.'s investment portfolio, making the stock its 16th biggest position.

A number of other institutional investors have also added to or reduced their stakes in PLTR. Crumly & Associates Inc. bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $536,000. Harbor Investment Advisory LLC lifted its position in Palantir Technologies by 3.4% during the second quarter. Harbor Investment Advisory LLC now owns 6,188 shares of the company's stock valued at $844,000 after purchasing an additional 202 shares during the last quarter. Kera Capital Partners Inc. lifted its position in Palantir Technologies by 38.9% during the second quarter. Kera Capital Partners Inc. now owns 3,964 shares of the company's stock valued at $540,000 after purchasing an additional 1,111 shares during the last quarter. Private Client Services LLC increased its holdings in shares of Palantir Technologies by 111.9% in the 2nd quarter. Private Client Services LLC now owns 8,387 shares of the company's stock worth $1,143,000 after buying an additional 4,429 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Palantir Technologies in the 1st quarter worth $6,568,000. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 375,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at $106,261,243.20. This trade represents a 34.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider owned 307,470 shares in the company, valued at $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,604,634 shares of company stock valued at $245,441,454 over the last quarter. 12.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank Of Canada upped 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. DA Davidson set a $170.00 price objective on Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Citigroup reaffirmed a "neutral" rating and issued a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Loop Capital upped their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Stock Up 4.3%

Shares of NASDAQ:PLTR traded up $7.07 during midday trading on Friday, hitting $171.43. 54,323,535 shares of the stock traded hands, compared to its average volume of 75,252,840. The business's 50 day moving average is $160.07 and its two-hundred day moving average is $127.42. The stock has a market capitalization of $406.69 billion, a PE ratio of 571.45, a P/E/G ratio of 9.66 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $34.89 and a one year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business's revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Company 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.