BIP Wealth LLC Makes New $263,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

BIP Wealth LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,112 shares of the company's stock, valued at approximately $263,000.

Other institutional investors have also recently made changes to their positions in the company. Richardson Capital Management LLC bought a new position in Palantir Technologies in the first quarter worth $33,000. Cornerstone Planning Group LLC grew its stake in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $34,000. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after buying an additional 125 shares during the last quarter. Finally, Godsey & Gibb Inc. boosted its position in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The stock was 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. The trade was a 5.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider owned 367,691 shares of the company's stock, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,452,297 shares of company stock worth $186,222,373. 9.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PLTR. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $116.00 to $135.00 in a research report on Wednesday. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Citigroup raised their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Wedbush set a $160.00 price objective on Palantir Technologies in a research note on Thursday, July 10th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $91.37.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $2.33 during trading hours on Wednesday, reaching $150.91. The stock had a trading volume of 57,528,091 shares, compared to its average volume of 83,353,255. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $151.41. The company has a 50 day moving average price of $132.11 and a two-hundred day moving average price of $104.76. The stock has a market capitalization of $356.13 billion, a PE ratio of 656.13, a PEG ratio of 12.73 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for 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%. The company's revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.