Vivid Wealth Management LLC Acquires Shares of 24,825 Palantir Technologies Inc. (NASDAQ:PLTR)

Vivid Wealth Management LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 24,825 shares of the company's stock, valued at approximately $2,095,000.

Several other large investors also recently modified their holdings of PLTR. Continuum Advisory LLC raised its holdings in Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after buying an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA boosted its stake in 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 during the last quarter. True Wealth Design LLC increased its holdings in Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Gemmer Asset Management LLC increased its holdings in Palantir Technologies by 1.6% during the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock worth $639,000 after purchasing an additional 119 shares in the last quarter. Finally, Westover Capital Advisors LLC raised its stake in shares of Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Mizuho boosted their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a report on Wednesday, June 11th. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Up 1.3%

Shares of NASDAQ:PLTR traded up $1.76 during midday trading on Wednesday, reaching $139.96. 58,100,428 shares of the company traded hands, compared to its average volume of 81,096,948. The firm's fifty day moving average price is $117.68 and its two-hundred day moving average price is $95.83. The firm has a market capitalization of $330.29 billion, a price-to-earnings ratio of 608.52, a price-to-earnings-growth ratio of 11.66 and a beta of 2.64. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $144.86.

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

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,506,925 shares of company stock worth $188,456,658. Corporate insiders own 9.23% of the company's stock.

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.