49 Wealth Management LLC Purchases New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

49 Wealth Management LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,121 shares of the company's stock, valued at approximately $348,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its holdings in shares of Palantir Technologies by 3.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 192,547 shares of the company's stock worth $16,251,000 after acquiring an additional 6,686 shares during the last quarter. Lee Johnson Capital Management LLC purchased a new stake in Palantir Technologies in the 1st quarter worth about $4,259,000. Investment Partners LTD. lifted its stake in Palantir Technologies by 24.2% in the first quarter. Investment Partners LTD. now owns 7,347 shares of the company's stock worth $620,000 after purchasing an additional 1,430 shares during the last quarter. Bank Hapoalim BM purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $227,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Palantir Technologies by 89.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 67,242 shares of the company's stock valued at $5,675,000 after buying an additional 31,754 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $139.12 on Tuesday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22. The business has a fifty day moving average price of $128.96 and a 200 day moving average price of $102.29. The stock has a market capitalization of $328.31 billion, a P/E ratio of 604.87, a price-to-earnings-growth ratio of 11.47 and a beta of 2.59.

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

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total value of $4,510,558.85. Following the completion of the transaction, the insider directly owned 363,755 shares of the company's stock, valued at $49,219,689.05. This trade represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 34,357 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.96, for a total transaction of $4,327,607.72. Following the sale, the insider directly owned 592 shares in the company, valued at approximately $74,568.32. This represents a 98.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research analyst reports. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Mizuho upped their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 11th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $89.32.

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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