Smith Salley Wealth Management Invests $291,000 in Palantir Technologies Inc. $PLTR

Key Points

• Smith Salley Wealth Management has acquired a new position in Palantir Technologies, investing approximately $291,000 for 2,135 shares during the 2nd quarter.
• Insider transactions include significant sales by directors, with Lauren Elaina Friedman Stat selling 9,000 shares and Shyam Sankar selling 30,000 shares, indicating a 15.05% and 4.09% decrease in their respective holdings.
• Wall Street analysts have mixed views on Palantir, with ratings ranging from buy to hold to sell, alongside a consensus price target of $140.22 for the stock.

Smith Salley Wealth Management acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,135 shares of the company's stock, valued at approximately $291,000.

Several other hedge funds have also modified their holdings of the company. Symmetry Partners LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $217,000. Wagner Wealth Management LLC raised its holdings in shares of Palantir Technologies by 2.9% during the 2nd quarter. Wagner Wealth Management LLC now owns 2,998 shares of the company's stock worth $409,000 after acquiring an additional 84 shares in the last quarter. San Luis Wealth Advisors LLC increased its position in shares of Palantir Technologies by 27.2% during the 2nd quarter. San Luis Wealth Advisors LLC now owns 3,324 shares of the company's stock valued at $453,000 after purchasing an additional 711 shares during the last quarter. Grandview Asset Management LLC bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $248,000. Finally, Beacon Capital Management LLC increased its position in shares of Palantir Technologies by 38.2% during the 2nd quarter. Beacon Capital Management LLC now owns 2,546 shares of the company's stock valued at $347,000 after purchasing an additional 704 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,000 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $177.60, for a total value of $1,598,400.00. Following the completion of the sale, the director directly owned 50,794 shares in the company, valued at approximately $9,021,014.40. This represents a 15.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,634,634 shares of company stock worth $250,524,804. 12.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLTR. Loop Capital boosted their target price on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada boosted their target price on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $140.22.

Palantir Technologies Stock Down 0.9%

Shares of Palantir Technologies stock opened at $177.57 on Monday. The stock's fifty day moving average is $166.16 and its two-hundred day moving average is $134.01. The company has a market capitalization of $421.26 billion, a PE ratio of 591.92, a price-to-earnings-growth ratio of 9.91 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $36.05 and a 52 week high of $190.00.

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

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.

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