Meridian Wealth Management LLC Boosts Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Meridian Wealth Management boosted its Palantir stake by 9.6% in the fourth quarter, buying 11,750 more shares and bringing its total to 134,257 shares worth about $23.9 million.
• Palantir’s latest quarterly results were strong, with EPS of $0.33 beating estimates and revenue of $1.63 billion, up 84.7% year over year and ahead of expectations.
• Despite the solid fundamentals, the stock faces mixed sentiment: analysts remain generally bullish with a Moderate Buy consensus and $195.16 price target, but valuation concerns and recent insider selling continue to weigh on shares.

Meridian Wealth Management LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,257 shares of the company's stock after purchasing an additional 11,750 shares during the period. Palantir Technologies makes up approximately 0.8% of Meridian Wealth Management LLC's portfolio, making the stock its 21st largest position. Meridian Wealth Management LLC's holdings in Palantir Technologies were worth $23,864,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bare Financial Services Inc raised its holdings in Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Morton Brown Family Wealth LLC raised its holdings in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after purchasing an additional 125 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in Palantir Technologies during the third quarter worth about $32,000. United Financial Planning Group LLC purchased a new position in Palantir Technologies during the third quarter worth about $32,000. Finally, Clayton Financial Group LLC raised its holdings in Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after purchasing an additional 150 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Phillip Securities raised its price target on Palantir to $202 and reiterated a Buy rating, citing explosive earnings momentum and strong AI traction. Article Title
• Positive Sentiment: Multiple bullish pieces say Palantir just delivered its fastest revenue growth as a public company, with guidance suggesting more upside ahead and long-term AI leadership across defense, healthcare, logistics, and industrial reshoring. Article Title Article Title
• Positive Sentiment: Dan Ives reiterated a constructive view, calling Palantir a “golden goose” and dismissing panic over the sell-off, while other coverage pointed to strong demand for the company’s software and supportive defense/geopolitical spending trends. Article Title Article Title
• Neutral Sentiment: Palantir continues to attract heavy investor attention, with several “why is everyone talking about PLTR” style articles reflecting heightened market interest rather than a specific new catalyst. Article Title
• Negative Sentiment: Valuation concerns remain a major drag, with one article warning investors not to ignore Palantir’s steep multiple and another noting the stock has been falling even while the business performs well. Article Title Article Title
• Negative Sentiment: Fresh scrutiny over NHS data access adds a regulatory and reputational overhang, with concerns about contractor access to patient information potentially pressuring sentiment. Article Title

Analysts Set New Price Targets

PLTR has been the subject of several analyst reports. DZ Bank initiated coverage on shares of Palantir Technologies in a report on Thursday, April 23rd. They set a "buy" rating and a $175.00 price target for the company. HSBC cut shares of Palantir Technologies from a "buy" rating to a "hold" rating and dropped their target price for the company from $205.00 to $151.00 in a report on Friday, May 1st. Robert W. Baird raised shares of Palantir Technologies from a "neutral" rating to an "outperform" rating and set a $200.00 target price for the company in a report on Tuesday, February 3rd. Daiwa Securities Group raised shares of Palantir Technologies from a "neutral" rating to a "buy" rating and set a $180.00 target price for the company in a report on Tuesday, February 10th. Finally, Zacks Research raised shares of Palantir Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $195.16.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 327,088 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $43,738,207.36. Following the sale, the insider directly owned 592 shares in the company, valued at $79,162.24. This represents a 99.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Glazer sold 17,438 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $2,331,809.36. Following the completion of the sale, the insider owned 392,370 shares in the company, valued at $52,467,716.40. This represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,029,479 shares of company stock valued at $137,685,797. Corporate insiders own 9.53% of the company's stock.

Palantir Technologies Trading Down 0.7%

Shares of Palantir Technologies stock opened at $136.89 on Tuesday. Palantir Technologies Inc. has a 12-month low of $115.01 and a 12-month high of $207.52. The stock has a market cap of $327.40 billion, a PE ratio of 153.81, a price-to-earnings-growth ratio of 2.19 and a beta of 1.52. The company has a 50-day moving average of $145.60 and a two-hundred day moving average of $160.97.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same period last year, the company posted $0.13 earnings per share. The firm's quarterly revenue was up 84.7% compared to the same quarter last year. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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