21,428 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Processus Wealth & Capital Management LLC

Processus Wealth & Capital Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 21,428 shares of the company's stock, valued at approximately $1,809,000. Palantir Technologies accounts for approximately 1.5% of Processus Wealth & Capital Management LLC's holdings, making the stock its 25th largest position.

Several other hedge funds have also made changes to their positions in the company. Sovran Advisors LLC increased its holdings in shares of Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after acquiring an additional 94 shares during the period. Lodestone Wealth Management LLC grew its position in Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares in the last quarter. Continuum Advisory LLC grew its position in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares in the last quarter. Sierra Ocean LLC grew its position in Palantir Technologies by 26.6% in the 1st quarter. Sierra Ocean LLC now owns 523 shares of the company's stock valued at $44,000 after buying an additional 110 shares in the last quarter. Finally, Heritage Wealth Management Inc. CA boosted its position in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

PLTR opened at $142.50 on Friday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22. The company has a market capitalization of $336.29 billion, a P/E ratio of 619.57, a P/E/G ratio of 12.22 and a beta of 2.59. The stock has a fifty day moving average of $130.45 and a 200-day moving average of $103.25.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the business earned $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent analyst reports. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Citigroup boosted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and an average target price of $89.32.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. Company insiders own 9.23% of the company's stock.

Palantir Technologies Company 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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