Mid American Wealth Advisory Group Inc. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,152 shares of the company’s stock, valued at approximately $368,000.
Other large investors also recently modified their holdings of the company. Basepoint Wealth LLC acquired a new position in Palantir Technologies in the 4th quarter valued at about $29,000. Ballast Advisors LLC acquired a new stake in Palantir Technologies during the first quarter worth approximately $29,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares during the period. Cornerstone Financial Management LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $31,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $32,000. 45.65% of the stock is owned by institutional investors.
Palantir Technologies Trading Down 2.8%
NASDAQ PLTR opened at $174.04 on Friday. The company has a market cap of $417.23 billion, a price-to-earnings ratio of 148.75, a PEG ratio of 2.55 and a beta of 1.59. The company has a 50 day moving average of $134.60 and a 200-day moving average of $140.15. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52.
Insider Buying and Selling
In other news, insider Stephen Andrew Cohen sold 319,934 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 $43,523,821.36. Following the sale, the insider directly owned 592 shares of the company’s stock, valued at approximately $80,535.68. This represents a 99.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the transaction, the insider owned 60,226 shares in the company, valued at $7,757,108.80. The trade was a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,150,302 shares of company stock valued at $156,197,565. 9.53% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Mizuho lifted their price target on Palantir Technologies from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $80.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 4th. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price objective on shares of Palantir Technologies in a research report on Thursday, July 30th. Oppenheimer downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 4th. Finally, DA Davidson boosted their target price on shares of Palantir Technologies from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.19.
View Our Latest Research Report on PLTR
Key Stories Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
- Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
- Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
- Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
- Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
- Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings
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.
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