M Holdings Securities Inc. Buys 4,522 Shares of Palantir Technologies Inc. $PLTR

Key Points

• M Holdings Securities Inc. increased its stake in Palantir Technologies by 22.5%, purchasing an additional 4,522 shares, bringing their total ownership to 24,603 shares valued at approximately $2.1 million.
• Two research firms upgraded Palantir's stock rating to buy and neutral, while the company currently holds a consensus rating of "Hold" with a price target of $136.61.
• Palantir Technologies reported a 48% revenue increase year-over-year, earning $0.16 EPS for the recent quarter, surpassing analyst expectations.

M Holdings Securities Inc. increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,603 shares of the company's stock after purchasing an additional 4,522 shares during the period. M Holdings Securities Inc.'s holdings in Palantir Technologies were worth $2,076,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mechanics Financial Corp bought a new position in Palantir Technologies during the first quarter valued at approximately $25,000. Richardson Capital Management LLC bought a new position in Palantir Technologies during the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC grew its stake in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after buying an additional 185 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after buying an additional 125 shares during the last quarter. Finally, Godsey & Gibb Inc. grew its stake in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after buying an additional 370 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Wall Street Zen raised Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a report on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $177.17 on Monday. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The business has a 50-day simple moving average of $151.03 and a two-hundred day simple moving average of $119.75. The firm has a market cap of $420.31 billion, a price-to-earnings ratio of 590.59, a price-to-earnings-growth ratio of 9.99 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The business's revenue for the quarter was up 48.0% compared to the same quarter last year. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In related news, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the transaction, the insider directly owned 492,079 shares in the company, valued at approximately $61,987,191.63. The trade was a 0.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the transaction, the insider owned 363,755 shares of the company's stock, valued at approximately $63,657,125. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,515,632 shares of company stock worth $196,472,623. Company insiders own 12.93% of the company's stock.

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.

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