Palantir Technologies Inc. (NASDAQ:PLTR) Position Increased by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 100.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,486 shares of the company's stock after acquiring an additional 37,401 shares during the period. Apollon Wealth Management LLC's holdings in Palantir Technologies were worth $6,287,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Sovran Advisors LLC lifted its stake in shares of Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after acquiring an additional 94 shares in the last quarter. Lodestone Wealth Management LLC lifted its stake in shares of Palantir Technologies by 1.1% in the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after acquiring an additional 97 shares in the last quarter. Continuum Advisory LLC lifted its stake in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares in the last quarter. Kathmere Capital Management LLC lifted its stake in shares of Palantir Technologies by 0.5% in the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after acquiring an additional 99 shares in the last quarter. Finally, Key Financial Inc raised its stake in Palantir Technologies by 0.5% during the first quarter. Key Financial Inc now owns 21,586 shares of the company's stock valued at $1,822,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

PLTR has been the topic of several research reports. DA Davidson upped their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $116.00 to $135.00 in a research note on Wednesday. Cantor Fitzgerald upped their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $91.37.

Palantir Technologies Stock Up 2.0%

NASDAQ PLTR traded up $3.08 on Thursday, reaching $153.99. 60,015,005 shares of the stock traded hands, compared to its average volume of 83,260,501. The firm's fifty day simple moving average is $132.92 and its 200 day simple moving average is $105.08. The company has a market cap of $363.40 billion, a price-to-earnings ratio of 669.52, a P/E/G ratio of 12.68 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $155.65.

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 for the quarter, hitting the consensus estimate of $0.13. The business 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 6.55% 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 period last year, the company posted $0.08 EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eric H. Woersching sold 10,214 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the sale, the director directly owned 2,348 shares of the company's stock, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,452,297 shares of company stock valued at $186,222,373 over the last quarter. 9.23% of the stock is owned by 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.