Burns Matteson Capital Management LLC Acquires New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Burns Matteson Capital Management LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,507 shares of the company's stock, valued at approximately $212,000.

Several other large investors have also bought and sold shares of the business. Revolve Wealth Partners LLC acquired a new stake in Palantir Technologies in the fourth quarter worth $450,000. Proficio Capital Partners LLC acquired a new stake in Palantir Technologies in the fourth quarter worth $522,000. Envestnet Portfolio Solutions Inc. raised its holdings in Palantir Technologies by 17.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 26,829 shares of the company's stock worth $2,029,000 after purchasing an additional 3,973 shares during the period. Thrivent Financial for Lutherans raised its holdings in Palantir Technologies by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 92,313 shares of the company's stock worth $6,900,000 after purchasing an additional 657 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Palantir Technologies by 54.7% in the fourth quarter. Advisors Asset Management Inc. now owns 83,014 shares of the company's stock worth $6,278,000 after purchasing an additional 29,349 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $153.99 on Friday. The firm has a market capitalization of $363.40 billion, a PE ratio of 669.52, a P/E/G ratio of 12.88 and a beta of 2.59. The company's 50-day moving average is $133.61 and its 200-day moving average is $105.61. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $155.68.

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 company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective on the stock. UBS Group restated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Finally, Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. 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 stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $91.37.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock worth $191,222,623 in the last ninety days. Insiders own 9.23% of the company's stock.

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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