Alta Wealth Advisors LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Alta Wealth Advisors LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,426 shares of the company's stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in shares of Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after buying an additional 6,479 shares during the period. Pitcairn Co. purchased a new position in Palantir Technologies in the 4th quarter worth $281,000. Sagespring Wealth Partners LLC raised its stake in Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after acquiring an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Palantir Technologies during the 4th quarter worth about $52,033,000. Finally, CX Institutional purchased a new stake in Palantir Technologies during the 1st quarter valued at about $62,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 0.9%

Shares of PLTR opened at $144.25 on Friday. The firm has a market cap of $340.42 billion, a P/E ratio of 627.17, a PEG ratio of 12.20 and a beta of 2.64. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22. The stock's 50 day moving average is $124.50 and its two-hundred day moving average is $99.02.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 business's revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on PLTR shares. Cantor Fitzgerald raised their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday. DA Davidson lifted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Morgan Stanley increased their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $89.32.

Insider Activity

In related news, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock worth $188,456,658 over the last 90 days. 9.23% of the stock is currently owned by company insiders.

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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