Processus Wealth & Capital Management LLC Invests $1.81 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

Processus Wealth & Capital Management LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 portfolio, making the stock its 25th biggest holding.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp grew its position in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank bought a new position in Palantir Technologies in the fourth quarter worth approximately $1,360,191,000. FMR LLC raised its holdings in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the transaction, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. 9.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PLTR shares. Mizuho increased their price objective on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Wedbush reaffirmed an "outperform" rating on shares of Palantir Technologies in a research note on Thursday. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Down 0.3%

Palantir Technologies stock traded down $0.40 during mid-day trading on Friday, hitting $142.10. The company's stock had a trading volume of 52,005,962 shares, compared to its average volume of 83,116,242. The stock has a market capitalization of $335.34 billion, a P/E ratio of 617.83, a P/E/G ratio of 12.16 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22. The stock's fifty day moving average price is $130.45 and its two-hundred day moving average price is $103.25.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 earnings per share. Equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.