Nicholas Wealth LLC. Acquires 2,594 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Nicholas Wealth LLC increased its stake in Palantir Technologies by 9.7%, owning a total of 29,229 shares valued at approximately $2.47 million as of the latest SEC filing.
• Insider Ryan D. Taylor sold 33,335 shares for over $5 million, resulting in an 8.39% decrease in their ownership, while corporate insiders collectively sold 1,485,632 shares valued at $191 million over the last quarter.
• Palantir Technologies' stock price rose by 2.5% to $158.80, with a market cap of $374.75 billion and a significant price-to-earnings ratio of 690.43.

Nicholas Wealth LLC. lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,229 shares of the company's stock after purchasing an additional 2,594 shares during the quarter. Palantir Technologies comprises approximately 1.4% of Nicholas Wealth LLC.'s portfolio, making the stock its 12th largest holding. Nicholas Wealth LLC.'s holdings in Palantir Technologies were worth $2,467,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PLTR. Allegiance Financial Group Advisory Services LLC boosted its stake in shares of Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares in the last quarter. Sovran Advisors LLC grew its holdings in shares of Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the last quarter. Lodestone Wealth Management LLC grew its holdings in shares of Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in shares of Palantir Technologies by 0.5% in the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after buying an additional 99 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the sale, the director owned 62,887 shares of the company's stock, valued at $8,779,654.07. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 39,825 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the sale, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $810,271,540.26. The trade was a 0.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,485,632 shares of company stock worth $191,222,623. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Down 0.5%

PLTR traded down $0.79 during mid-day trading on Monday, reaching $158.01. 30,150,966 shares of the company traded hands, compared to its average volume of 93,570,648. The stock has a market capitalization of $372.89 billion, a P/E ratio of 687.00, a P/E/G ratio of 13.54 and a beta of 2.59. The company's fifty day moving average price is $137.03 and its 200-day moving average price is $109.42. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $160.39.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Wedbush set a $160.00 price objective on Palantir Technologies in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Finally, Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $95.30.

About Palantir Technologies

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.