MSA Advisors LLC Purchases New Position in Palantir Technologies Inc. $PLTR

MSA Advisors LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) during the first quarter, Holdings Channel reports. The institutional investor acquired 6,422 shares of the company’s stock, valued at approximately $939,000. Palantir Technologies makes up about 0.3% of MSA Advisors LLC’s portfolio, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Basepoint Wealth LLC bought a new stake in Palantir Technologies in the fourth quarter worth approximately $29,000. Morton Brown Family Wealth LLC increased its stake in shares of Palantir Technologies by 250.0% during 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 last quarter. Cornerstone Financial Management LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth $31,000. Clayton Financial Group LLC raised its holdings in shares of Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Palantir Technologies during the 1st quarter valued at $32,000. Institutional investors own 45.65% of the company’s stock.

More Palantir Technologies News

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

  • Positive Sentiment: Oppenheimer reiterated its Outperform rating and $200 price target, citing the potential for a strong second-quarter earnings beat and another increase to Palantir’s outlook. Oppenheimer earnings expectations
  • Positive Sentiment: Analysts and other market commentators expect revenue growth of roughly 85% in the second quarter, with U.S. government demand potentially supporting stronger full-year guidance. Palantir’s artificial-intelligence platform continues to gain traction with government and commercial customers. Palantir earnings outlook
  • Positive Sentiment: Technical analysts noted that PLTR had recently reclaimed its 20-day and 50-day moving averages, while a bullish-flag pattern could support a rebound if earnings trigger an upside breakout. Palantir technical forecast

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $123.53 on Wednesday. The stock’s 50-day moving average is $131.24 and its 200-day moving average is $141.58. The company has a market cap of $296.14 billion, a P/E ratio of 138.80, a P/E/G ratio of 2.10 and a beta of 1.56. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the firm earned $0.13 EPS. The firm’s revenue was up 84.7% compared to the same quarter last year. As a group, equities analysts predict that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLTR. Wolfe Research upgraded shares of Palantir Technologies from an “underperform” rating to a “peer perform” rating in a report on Tuesday, June 16th. Argus raised shares of 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. DZ Bank assumed coverage on Palantir Technologies in a report on Thursday, April 23rd. They set a “buy” rating and a $175.00 target price on the stock. BNP Paribas Exane assumed coverage on Palantir Technologies in a research report on Tuesday, June 16th. They issued an “underperform” rating for the company. Finally, Oppenheimer reiterated an “outperform” rating on shares of Palantir Technologies in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $189.88.

View Our Latest Research Report on PLTR

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider owned 592 shares of the company’s stock, valued at approximately $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. 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. Insiders sold 1,112,270 shares of company stock valued at $150,247,785 in the last ninety days. Company insiders own 9.53% of the company’s stock.

Palantir Technologies Profile

(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.

Further Reading

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:PLTRFree Report).

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

Receive News & Ratings for Palantir Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palantir Technologies and related companies with MarketBeat.com's FREE daily email newsletter.