Cathy Pareto & Associates Inc. Acquires New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Cathy Pareto & Associates Inc. acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,610 shares of the company's stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Continuum Advisory LLC boosted its stake in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after buying an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA lifted its stake in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares during the period. True Wealth Design LLC increased its holdings in Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after buying an additional 114 shares during the last quarter. Westover Capital Advisors LLC grew its position in shares of Palantir Technologies by 1.8% during the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after acquiring an additional 130 shares during the period. Finally, Twin Peaks Wealth Advisors LLC lifted its position in Palantir Technologies by 2.2% during the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock valued at $493,000 after purchasing an additional 139 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 7.8%

Shares of PLTR stock traded down $10.10 during trading hours on Thursday, hitting $119.91. 130,949,256 shares of the company were exchanged, compared to its average volume of 79,623,399. The company has a market capitalization of $282.98 billion, a PE ratio of 631.14, a PEG ratio of 10.84 and a beta of 2.64. The business has a 50 day moving average of $108.44 and a two-hundred day moving average of $91.31. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $135.28.

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 analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the prior year, the firm earned $0.08 EPS. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent analyst reports. Loop Capital raised their price target on Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. The Goldman Sachs Group lifted their price target 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. DA Davidson raised their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Mizuho boosted their price objective on Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley raised their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $83.95.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction on 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 directly owns 592 shares of the company's stock, valued at $50,497.60. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,894,925 shares of company stock worth $369,820,528. Company 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.