Fifth Third Wealth Advisors LLC Purchases 3,702 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Fifth Third Wealth Advisors LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,930 shares of the company's stock after purchasing an additional 3,702 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Palantir Technologies were worth $2,188,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Tallon Kerry Patrick bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $289,000. Union Bancaire Privee UBP SA acquired a new position in Palantir Technologies during the fourth quarter worth approximately $15,177,000. Revolve Wealth Partners LLC acquired a new position in Palantir Technologies during the fourth quarter worth approximately $450,000. R Squared Ltd bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $33,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Palantir Technologies by 37.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,555 shares of the company's stock valued at $269,000 after buying an additional 970 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research analyst reports. Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Robert W. Baird lifted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Mizuho increased their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Finally, Loop Capital upped their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research note 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.com, the stock has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Stock Up 0.9%

Shares of PLTR traded up $1.13 during mid-day trading on Tuesday, hitting $133.17. 90,937,653 shares of the company's stock were exchanged, compared to its average volume of 79,010,896. The firm has a market cap of $314.27 billion, a price-to-earnings ratio of 700.93, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The stock's 50-day simple moving average is $106.69 and its 200-day simple moving average is $90.74. Palantir Technologies Inc. has a 52 week low of $21.01 and a 52 week high of $135.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. Analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,901,701 shares of company stock worth $370,407,533. Corporate insiders own 9.23% of the company's stock.

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.