Spartan Wealth Advisory Services LLC Invests $862,000 in Palantir Technologies Inc. $PLTR

Key Points

• Spartan Wealth Advisory Services LLC opened a new position in Palantir Technologies during the first quarter, buying 5,893 shares valued at about $862,000.
• Institutional ownership remains significant, with hedge funds and other investors holding 45.65% of Palantir’s stock and several firms recently adding to their stakes.
• Insiders have been selling shares, including CEO Alexander Karp and insider Ryan D. Taylor, while analysts remain generally positive with a consensus Moderate Buy rating and a $190.85 price target.

Spartan Wealth Advisory Services LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,893 shares of the company's stock, valued at approximately $862,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLTR. Beaumont Financial Advisors LLC lifted its position in shares of Palantir Technologies by 2.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company's stock valued at $527,000 after acquiring an additional 59 shares during the period. Transcend Capital Advisors LLC boosted its stake in shares of Palantir Technologies by 0.6% during the 4th quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company's stock worth $1,890,000 after acquiring an additional 60 shares in the last quarter. Sandbox Financial Partners LLC grew its holdings in shares of Palantir Technologies by 1.3% in the 4th quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company's stock worth $873,000 after acquiring an additional 61 shares during the period. San Luis Wealth Advisors LLC grew its holdings in shares of Palantir Technologies by 1.6% in the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company's stock worth $726,000 after acquiring an additional 63 shares during the period. Finally, Monument Capital Management increased its stake in Palantir Technologies by 1.2% in the 4th quarter. Monument Capital Management now owns 5,341 shares of the company's stock valued at $949,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 397,744 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 $54,109,093.76. Following the sale, the insider owned 6,432,258 shares of the company's stock, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the sale, the insider 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 1,112,270 shares of company stock valued at $150,247,785. Company insiders own 9.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. DZ Bank started coverage on Palantir Technologies in a report on Thursday, April 23rd. They set a "buy" rating and a $175.00 price objective for the company. Citigroup upped their target price on Palantir Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. BNP Paribas Exane assumed coverage on Palantir Technologies in a research report on Tuesday, June 16th. They issued an "underperform" rating for the company. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price target on shares of Palantir Technologies in a research report on Friday, June 5th. Finally, Wedbush began coverage on Palantir Technologies in a research note on Tuesday, June 16th. They set an "outperform" rating for the company. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.85.

More Palantir Technologies News

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

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Palantir and set a $175 price target, implying meaningful upside from current levels. This helps reinforce the bullish case after recent volatility. Benzinga article
• Positive Sentiment: Palantir’s partnership with Nvidia on sovereign AI is drawing investor interest and is being framed as a potential long-term growth catalyst, especially as AI infrastructure spending continues. Article
• Positive Sentiment: Palantir CEO Alex Karp has been highlighting the company as one of the key beneficiaries of AI infrastructure demand, which may support the bull thesis that Palantir is becoming a major enterprise AI winner. Article

Palantir Technologies Price Performance

Shares of PLTR opened at $132.38 on Monday. The firm has a 50 day simple moving average of $132.20 and a 200-day simple moving average of $144.02. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52. The stock has a market cap of $317.36 billion, a price-to-earnings ratio of 148.74, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.Palantir Technologies's revenue was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. On average, equities analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

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.

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