Cornerstone Select Advisors LLC Purchases Shares of 19,832 Palantir Technologies Inc. (NASDAQ:PLTR)

Cornerstone Select Advisors LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,832 shares of the company's stock, valued at approximately $1,500,000. Palantir Technologies accounts for 1.4% of Cornerstone Select Advisors LLC's portfolio, making the stock its 21st biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in PLTR. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC grew its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the period. HighMark Wealth Management LLC raised its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in Palantir Technologies in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the sale, the insider now owns 702,786 shares of the company's stock, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,978,181 shares of company stock valued at $252,115,667 over the last 90 days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Trading Down 12.0 %

NASDAQ PLTR opened at $108.86 on Wednesday. Palantir Technologies Inc. has a 12 month low of $20.50 and a 12 month high of $125.41. The stock has a 50 day moving average of $92.34 and a 200-day moving average of $80.74. The company has a market cap of $255.32 billion, a PE ratio of 572.98, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PLTR shares. Loop Capital upped their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday. UBS Group boosted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday. Citigroup raised their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $80.81.

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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