Diligent Investors LLC Buys 2,104 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Diligent Investors LLC lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,799 shares of the company's stock after purchasing an additional 2,104 shares during the quarter. Diligent Investors LLC's holdings in Palantir Technologies were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at $27,000. HighMark Wealth Management LLC increased its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at $31,000. First Command Advisory Services Inc. purchased a new stake in Palantir Technologies during the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 7.8%

Shares of NASDAQ PLTR traded down $10.10 during midday trading on Thursday, hitting $119.91. The company's stock had a trading volume of 130,949,256 shares, compared to its average volume of 79,782,790. The business's 50 day moving average is $108.44 and its two-hundred day moving average is $91.31. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $135.28. The firm has a market cap of $282.98 billion, a P/E ratio of 631.14, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company's revenue for the quarter was up 39.4% on a year-over-year basis. On average, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. DA Davidson boosted their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa America raised Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Five 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $83.95.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction on 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 3,894,925 shares of company stock worth $369,820,528. 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.