2,416 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Wealthstar Advisors LLC

Wealthstar Advisors LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,416 shares of the company's stock, valued at approximately $204,000.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after buying an additional 6,479 shares in the last quarter. Pitcairn Co. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $281,000. Sagespring Wealth Partners LLC grew its stake in shares of Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after buying an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $52,033,000. Finally, CX Institutional acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $62,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $130.74 on Friday. The stock's fifty day moving average price is $125.24 and its two-hundred day moving average price is $99.62. The company has a market cap of $308.53 billion, a price-to-earnings ratio of 568.43, a P/E/G ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on PLTR. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Mizuho increased their target price on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a report on Wednesday, June 11th. Finally, Morgan Stanley increased their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $89.32.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,506,925 shares of company stock worth $188,456,658. Corporate insiders own 9.23% of the company's stock.

About Palantir Technologies

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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