Envestnet Portfolio Solutions Inc. Has $6.75 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 198.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,954 shares of the company's stock after buying an additional 53,125 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Palantir Technologies were worth $6,748,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PLTR. First Command Advisory Services Inc. acquired a new position in Palantir Technologies during the fourth quarter worth $34,000. Summit Securities Group LLC bought a new stake in Palantir Technologies during the fourth quarter valued at about $34,000. Fairfield Financial Advisors LTD bought a new stake in Palantir Technologies during the fourth quarter valued at about $35,000. Godsey & Gibb Inc. boosted its holdings in Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after acquiring an additional 370 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in Palantir Technologies during the fourth quarter valued at about $36,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLTR. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Morgan Stanley upped their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. UBS Group upped their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, DA Davidson upped their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Down 1.9%

NASDAQ:PLTR opened at $137.30 on Friday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $144.86. The firm has a market capitalization of $324.02 billion, a PE ratio of 596.96, a price-to-earnings-growth ratio of 11.95 and a beta of 2.64. The firm has a 50-day moving average price of $120.65 and a 200 day moving average price of $97.09.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. The company's quarterly revenue was up 39.4% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on 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 now owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,506,925 shares of company stock valued at $188,456,658. Corporate 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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