Pinnacle Wealth Management Advisory Group LLC Purchases 5,519 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Pinnacle Wealth Management Advisory Group increased its Palantir position by 43.6% in the first quarter, buying 5,519 additional shares and bringing its stake to 18,171 shares worth about $2.66 million.
• Palantir also saw notable insider selling, including large transactions by Ryan D. Taylor and Shyam Sankar; insiders sold 927,270 shares worth about $126.2 million over the last 90 days.
• The company’s latest results were strong, with EPS of $0.33 and revenue of $1.63 billion, both ahead of expectations, while analysts currently rate the stock Moderate Buy with an average price target of $192.76.

Pinnacle Wealth Management Advisory Group LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 43.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,171 shares of the company's stock after buying an additional 5,519 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC's holdings in Palantir Technologies were worth $2,658,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Next Level Wealth Planning LLC grew its holdings in Palantir Technologies by 5.4% during the 1st quarter. Next Level Wealth Planning LLC now owns 6,696 shares of the company's stock worth $979,000 after acquiring an additional 343 shares in the last quarter. Welch Group LLC raised its holdings in shares of Palantir Technologies by 105.6% in the 1st quarter. Welch Group LLC now owns 11,002 shares of the company's stock valued at $1,609,000 after purchasing an additional 5,651 shares in the last quarter. Wealth Effects LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $261,000. Retirement Planning Group LLC NY lifted its position in shares of Palantir Technologies by 7.9% in the 1st quarter. Retirement Planning Group LLC NY now owns 2,122 shares of the company's stock worth $310,000 after purchasing an additional 155 shares during the period. Finally, First United Bank & Trust boosted its stake in shares of Palantir Technologies by 41.2% during the first quarter. First United Bank & Trust now owns 1,080 shares of the company's stock valued at $158,000 after purchasing an additional 315 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 19,662 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the sale, the insider owned 199,759 shares in the company, 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 SEC, which is accessible through this hyperlink. 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 on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the completion of the sale, the insider directly owned 642,786 shares of the company's stock, valued at $87,444,607.44. The trade was a 20.48% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 927,270 shares of company stock valued at $126,197,785. Corporate insiders own 9.53% of the company's stock.

Palantir Technologies Stock Up 5.3%

Shares of Palantir Technologies stock opened at $112.93 on Friday. The company has a market cap of $270.73 billion, a P/E ratio of 126.89, a PEG ratio of 1.73 and a beta of 1.53. The firm's 50 day moving average price is $135.96 and its 200-day moving average price is $150.44. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. Palantir Technologies's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 1.16 EPS for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the topic of several research reports. Argus raised shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a report on Wednesday, May 6th. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of Palantir Technologies in a report on Friday, June 5th. Royal Bank Of Canada reaffirmed an "underperform" rating and set a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. DA Davidson cut their price target on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday, May 5th. Finally, Phillip Securities boosted their price target on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $192.76.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: ARK Invest reportedly bought about $3.3 million of Palantir shares, helping fuel “buy the dip” interest after the stock hit 52-week lows. Why Is Palantir Stock Surging On Friday?
• Positive Sentiment: Wedbush and other bullish commentators argued the recent tech selloff is a buying opportunity, saying investors still underestimate Palantir’s role in enterprise AI. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: New growth catalysts were highlighted from Palantir’s partnerships with Zeta Global and the U.S. Army, reinforcing demand for its software platform. Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
• Positive Sentiment: Several articles pointed out that PLTR has become one of the most oversold mega-cap tech names, suggesting the stock may be stretched too far to the downside. Palantir Becomes Most Oversold Mega-Cap Tech Stock
• Neutral Sentiment: Palantir’s recent rebound also came as software stocks outperformed semiconductors, reflecting a broader sector rotation rather than a company-specific breakthrough. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Negative Sentiment: Despite the bounce, Palantir is still under pressure from a broad AI/software selloff, concerns about rich valuation, and fear that expectations ran ahead of fundamentals. Why Palantir Stock Soared Today
• Negative Sentiment: Bearish coverage also continued, including a Seeking Alpha piece on “accelerating AI risks,” underscoring investor worries about competition and the sustainability of Palantir’s premium multiple. Palantir: Accelerating AI Risks

About Palantir Technologies

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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