Congress Asset Management Co. Buys New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Congress Asset Management Co. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 59,114 shares of the company's stock, valued at approximately $4,989,000.

Several other institutional investors have also added to or reduced their stakes in PLTR. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the 4th quarter worth $27,000. HighMark Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth about $31,000. First Command Advisory Services Inc. acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $34,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the transaction, the insider now directly owns 403,171 shares of the company's stock, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the transaction, the insider now owns 592 shares of the company's stock, valued at $50,497.60. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,661,925 shares of company stock worth $268,580,958. 9.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research analyst reports. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Loop Capital raised their price objective on Palantir Technologies from $130.00 to $155.00 and gave the company a "buy" rating in a report on Thursday. Citigroup boosted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley increased their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $86.30.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $1.20 during mid-day trading on Thursday, reaching $135.19. 56,051,410 shares of the stock were exchanged, compared to its average volume of 80,361,610. The stock has a market cap of $319.04 billion, a P/E ratio of 711.56, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $140.00. The stock has a 50 day simple moving average of $113.13 and a 200-day simple moving average of $93.63.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business's quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the company posted $0.08 EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.