Mid American Wealth Advisory Group Inc. Acquires New Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Mid American Wealth Advisory Group acquired 3,152 Palantir shares worth approximately $368,000 in the second quarter. Institutional investors collectively own 45.65% of the company.
• Palantir reported strong quarterly results, with revenue up 92.8% year over year to $1.94 billion and earnings of $0.41 per share, beating analysts’ $0.34 estimate. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $192.19.
• Valuation remains a major risk: Palantir’s market capitalization is about $417 billion and its P/E ratio is roughly 149. Recent insider selling and an ARK Invest share sale could also add near-term pressure despite the company’s strong AI-driven growth outlook.

Mid American Wealth Advisory Group Inc. bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,152 shares of the company's stock, valued at approximately $368,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $450,000. Bison Wealth LLC raised its stake in Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock worth $1,296,000 after buying an additional 4,667 shares during the period. Capstone Wealth Management Group LLC raised its stake in Palantir Technologies by 38.0% during the 1st quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company's stock worth $1,447,000 after buying an additional 4,722 shares during the period. Schnieders Capital Management LLC. lifted its holdings in Palantir Technologies by 36.8% during the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company's stock worth $858,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Vivaldi Capital Management LP bought a new position in Palantir Technologies during the second quarter worth about $315,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 2.8%

NASDAQ:PLTR opened at $174.04 on Friday. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52. The firm has a fifty day simple moving average of $134.60 and a 200 day simple moving average of $140.15. The stock has a market capitalization of $417.23 billion, a PE ratio of 148.75, a P/E/G ratio of 2.55 and a beta of 1.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company earned $0.16 earnings per share. The firm's revenue for the quarter was up 92.8% on a year-over-year basis. On average, equities analysts predict that Palantir Technologies Inc. will post 1.26 earnings per share for the current fiscal year.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. DA Davidson boosted their price objective on Palantir Technologies from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Wolfe Research started coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They set a "buy" rating on the stock. Argus raised shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a research note on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $204.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, President Capital upgraded shares of Palantir Technologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $25.50 to $133.00 in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $192.19.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 19,662 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,674,818.48. Following the sale, the insider directly owned 199,759 shares of the company's stock, valued at approximately $27,175,214.36. This represents a 8.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares of the company's stock, valued at $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 1,150,302 shares of company stock worth $156,197,565. Corporate insiders own 9.53% of the company's stock.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source