Pinnacle Family Advisors LLC Buys Shares of 7,844 Palantir Technologies Inc. $PLTR

Key Points

• Pinnacle Family Advisors LLC has acquired 7,844 shares of Palantir Technologies Inc. ($PLTR), valued at approximately $662,000, during the first quarter of 2023.
• Palantir Technologies reported a 48.0% increase in revenue for the quarter, totaling $1 billion, and achieved an EPS of $0.16, surpassing analysts' expectations.
• Several large investors significantly increased their holdings in Palantir in the first quarter, with 45.65% of the stock now owned by institutional investors.

Pinnacle Family Advisors LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,844 shares of the company's stock, valued at approximately $662,000.

Several other institutional investors have also bought and sold shares of PLTR. Revolve Wealth Partners LLC bought a new position in Palantir Technologies in the 4th quarter valued at $450,000. Bison Wealth LLC raised its position in Palantir Technologies by 37.4% in the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after purchasing an additional 4,667 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in Palantir Technologies in the 4th quarter valued at $809,000. Brevan Howard Capital Management LP bought a new position in Palantir Technologies in the 4th quarter valued at $303,000. Finally, Colonial Trust Co SC raised its position in Palantir Technologies by 200.9% in the 4th quarter. Colonial Trust Co SC now owns 1,333 shares of the company's stock valued at $101,000 after purchasing an additional 890 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and upped their price target for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, Citigroup reiterated a "neutral" rating and issued a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $136.61.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at $973,650,893.46. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,990,586 shares of company stock valued at $295,423,583 in the last 90 days. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Stock Performance

PLTR traded down $3.03 on Friday, hitting $153.11. 81,687,948 shares of the company were exchanged, compared to its average volume of 75,790,000. Palantir Technologies Inc. has a 12 month low of $29.50 and a 12 month high of $190.00. The company has a market cap of $363.23 billion, a PE ratio of 510.38, a PEG ratio of 8.63 and a beta of 2.59. The stock's fifty day moving average is $157.00 and its 200-day moving average is $124.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data 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 analyst estimates 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 for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.