BXM Wealth LLC Acquires New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

BXM Wealth LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,120 shares of the company's stock, valued at approximately $349,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sovran Advisors LLC boosted its position in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after buying an additional 94 shares during the last quarter. Lodestone Wealth Management LLC boosted its position in shares of Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares during the last quarter. Continuum Advisory LLC boosted its position in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the last quarter. Sierra Ocean LLC boosted its position in shares of Palantir Technologies by 26.6% during the first quarter. Sierra Ocean LLC now owns 523 shares of the company's stock valued at $44,000 after buying an additional 110 shares during the last quarter. Finally, Heritage Wealth Management Inc. CA boosted its position in shares of Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after buying an additional 111 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR traded down $0.40 during mid-day trading on Friday, hitting $142.10. The stock had a trading volume of 52,005,962 shares, compared to its average volume of 83,116,242. The firm has a market cap of $335.34 billion, a P/E ratio of 617.83, a PEG ratio of 12.16 and a beta of 2.59. The business has a fifty day moving average price of $130.81 and a 200-day moving average price of $103.66. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 period in the previous year, the company posted $0.08 earnings per share. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider directly owned 492,079 shares in the company, valued at approximately $61,987,191.63. The trade was a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction 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 sale, the insider owned 363,755 shares in the company, valued at approximately $49,219,689.05. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,452,297 shares of company stock valued at $186,222,373. 9.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley lifted their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies 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.