SeaCrest Wealth Management LLC Purchases 4,752 Shares of Palantir Technologies Inc. $PLTR

Key Points

• SeaCrest Wealth Management LLC increased its stake in Palantir Technologies by 9.1% in the 2nd quarter, owning 57,150 shares valued at approximately $7.79 million.
• Palantir Technologies reported a 48% increase in revenue year-over-year for the most recent quarter, along with earnings per share of $0.16, surpassing analysts' expectations.
• Insiders have sold a significant number of shares recently, with transactions totaling over $248 million in value, indicating potential changes in ownership dynamics within the company.

SeaCrest Wealth Management LLC boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,150 shares of the company's stock after purchasing an additional 4,752 shares during the period. Palantir Technologies accounts for about 0.8% of SeaCrest Wealth Management LLC's portfolio, making the stock its 19th biggest holding. SeaCrest Wealth Management LLC's holdings in Palantir Technologies were worth $7,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at about $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $31,000. Finally, Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Down 1.7%

Shares of NASDAQ PLTR traded down $3.06 during mid-day trading on Monday, hitting $179.33. The company had a trading volume of 45,526,458 shares, compared to its average volume of 88,940,422. The company has a market capitalization of $425.43 billion, a price-to-earnings ratio of 597.79, a P/E/G ratio of 10.28 and a beta of 2.59. Palantir Technologies Inc. has a 1 year low of $36.05 and a 1 year high of $190.00. The stock's 50-day moving average price is $163.32 and its 200-day moving average price is $130.54.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 375,000 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the sale, the insider directly owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. This represents a 3.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,625,634 shares of company stock valued at $248,926,404 in the last 90 days. Corporate insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLTR. Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Mizuho set a $165.00 price target on Palantir Technologies in a report on Monday, September 15th. Royal Bank Of Canada raised their target price on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $138.28.

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.