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Wealth Alliance Advisory Group LLC Acquires 3,960 Shares of Palantir Technologies Inc. $PLTR

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Key Points

  • Wealth Alliance Advisory Group LLC increased its Palantir stake by 33.1%, purchasing 3,960 shares to hold 15,926 shares valued at about $2.83 million, per its latest SEC filing.
  • Palantir’s most recent quarter beat estimates with $0.25 EPS (vs. $0.23 expected) and $1.41 billion in revenue — revenue was up 70% year‑over‑year — though the stock trades at a high valuation (PE ~227, market cap ~$342B).
  • Insiders have been net sellers, offloading 1,029,879 shares (~$137.7M) in the past 90 days (including 493,025 shares sold by Alexander Karp), while analysts still show a consensus of "Moderate Buy" with an average target of $196.35.
  • Five stocks to consider instead of Palantir Technologies.

Wealth Alliance Advisory Group LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,926 shares of the company's stock after purchasing an additional 3,960 shares during the quarter. Wealth Alliance Advisory Group LLC's holdings in Palantir Technologies were worth $2,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bare Financial Services Inc boosted its stake in Palantir Technologies by 54.5% in the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after purchasing an additional 55 shares during the period. Financial Consulate Inc. bought a new position in Palantir Technologies in the 3rd quarter worth approximately $30,000. Morton Brown Family Wealth LLC boosted its stake in Palantir Technologies by 250.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after purchasing an additional 125 shares during the period. Flagship Wealth Advisors LLC bought a new position in Palantir Technologies in the 3rd quarter worth approximately $32,000. Finally, United Financial Planning Group LLC bought a new position in Palantir Technologies in the 3rd quarter worth approximately $32,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $143.09 on Friday. The stock's fifty day moving average is $144.74 and its 200 day moving average is $163.87. Palantir Technologies Inc. has a fifty-two week low of $105.32 and a fifty-two week high of $207.52. The firm has a market capitalization of $342.23 billion, a PE ratio of 227.13, a PEG ratio of 2.72 and a beta of 1.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, February 2nd. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Palantir Technologies had a return on equity of 23.81% and a net margin of 36.31%.The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm posted $0.14 EPS. Palantir Technologies's quarterly revenue was up 70.0% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 1.05 EPS for the current year.

Palantir Technologies News Summary

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

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 17,438 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $2,331,809.36. Following the sale, the insider owned 392,370 shares in the company, valued at $52,467,716.40. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 493,025 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $133.78, for a total value of $65,956,884.50. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at approximately $860,507,475.24. The trade was a 7.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,029,879 shares of company stock valued at $137,746,253. Insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Benchmark began coverage on Palantir Technologies in a research report on Wednesday, April 1st. They set a "hold" rating for the company. Loop Capital lowered their target price on Palantir Technologies from $230.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, January 30th. Daiwa Securities Group upgraded Palantir Technologies from a "neutral" rating to a "buy" rating and set a $180.00 target price for the company in a research report on Tuesday, February 10th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 25th. Finally, William Blair upgraded Palantir Technologies from a "market perform" rating to an "outperform" rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $196.35.

Read Our Latest Research Report on Palantir Technologies

About Palantir Technologies

(Free Report)

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.

Read More

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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