Spectrum Wealth Advisory Group LLC Invests $227,000 in Palantir Technologies Inc. $PLTR

Key Points

• Spectrum Wealth Advisory Group LLC has invested approximately $227,000 in Palantir Technologies, acquiring 2,686 shares during the first quarter of 2023.
• Palantir Technologies reported quarterly earnings of $0.16 EPS, exceeding estimates, with a revenue of $1 billion showcasing a 48% year-over-year increase.
• Despite recent insider sales, institutional investors hold 45.65% of Palantir's stock, with multiple analysts issuing varying price targets, reflecting a consensus rating of "Hold".

Spectrum Wealth Advisory Group LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,686 shares of the company's stock, valued at approximately $227,000.

Several other institutional investors also recently modified their holdings of the company. Insight Wealth Partners LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $218,000. Sassicaia Capital Advisers LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $1,182,000. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Palantir Technologies by 87.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 5,200 shares of the company's stock worth $439,000 after purchasing an additional 2,425 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Palantir Technologies by 1.2% during the 1st quarter. Panagora Asset Management Inc. now owns 1,672,720 shares of the company's stock worth $141,178,000 after purchasing an additional 19,791 shares in the last quarter. Finally, Activest Wealth Management boosted its stake in Palantir Technologies by 180.4% in the 1st quarter. Activest Wealth Management now owns 1,772 shares of the company's stock valued at $150,000 after buying an additional 1,140 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Down 0.9%

NASDAQ PLTR opened at $156.71 on Friday. The stock has a 50-day simple moving average of $155.46 and a 200 day simple moving average of $123.40. The company has a market capitalization of $371.77 billion, a PE ratio of 522.38, a P/E/G ratio of 8.91 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00.

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 (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the company earned $0.09 earnings per share. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on PLTR shares. The Goldman Sachs Group boosted their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Cantor Fitzgerald boosted their price target on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. UBS Group reissued a "neutral" rating and issued a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 price objective on Palantir Technologies in a research note on Tuesday, August 5th. Four investment 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.com, the stock has a consensus rating of "Hold" and an average target price of $136.61.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction dated 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 directly owned 702,786 shares in the company, valued at $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 9,211 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $1,434,613.25. Following the completion of the sale, the insider owned 343,518 shares of the company's stock, valued at $53,502,928.50. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,906,783 shares of company stock valued at $282,471,442. 9.23% of the stock is owned by company insiders.

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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