Spartan Wealth Advisory Services LLC Acquires New Position in Palantir Technologies Inc. $PLTR

Spartan Wealth Advisory Services LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, HoldingsChannel.com reports. The firm bought 5,893 shares of the company’s stock, valued at approximately $862,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Revolve Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth $450,000. Bison Wealth LLC boosted its holdings in shares of Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after purchasing an additional 4,667 shares during the last quarter. Capstone Wealth Management Group LLC grew its position in shares of Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after purchasing an additional 4,722 shares during the period. Schnieders Capital Management LLC. grew its position in shares of Palantir Technologies by 36.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock valued at $858,000 after purchasing an additional 1,694 shares during the period. Finally, Vivaldi Capital Management LP acquired a new position in Palantir Technologies in the second quarter valued at $315,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies News Roundup

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

Insiders Place Their Bets

In other news, insider David A. Glazer sold 17,128 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 $2,330,093.12. Following the transaction, the insider directly owned 375,242 shares of the company’s stock, valued at $51,047,921.68. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value 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. The trade was a 5.82% 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 ninety days, insiders sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $132.38 on Monday. The firm has a market capitalization of $317.36 billion, a P/E ratio of 148.74, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56. The stock’s fifty day simple moving average is $132.20 and its 200 day simple moving average is $144.02. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 4th. The company reported $0.33 earnings per share 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 analysts’ expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on PLTR. Argus upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Wednesday, May 6th. Wedbush assumed coverage on Palantir Technologies in a report on Tuesday, June 16th. They issued an “outperform” rating for the company. Mizuho dropped their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Wolfe Research upgraded shares of Palantir Technologies from an “underperform” rating to a “peer perform” rating in a report on Tuesday, June 16th. Finally, DA Davidson reissued a “buy” rating and issued a $175.00 target price on shares of Palantir Technologies in a research report on Friday. Two research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.85.

About Palantir Technologies

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.