Golden State Wealth Management LLC Purchases 19,188 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Golden State Wealth Management LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 91.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,188 shares of the company's stock after acquiring an additional 19,188 shares during the period. Golden State Wealth Management LLC's holdings in Palantir Technologies were worth $3,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PLTR. Bessemer Group Inc. grew its stake in Palantir Technologies by 13.6% in the first quarter. Bessemer Group Inc. now owns 25,414 shares of the company's stock valued at $2,145,000 after purchasing an additional 3,050 shares in the last quarter. Aurora Private Wealth Inc. increased its holdings in Palantir Technologies by 102.2% in the first quarter. Aurora Private Wealth Inc. now owns 9,791 shares of the company's stock worth $826,000 after buying an additional 4,949 shares during the last quarter. Kellett Wealth Advisors LLC raised its position in Palantir Technologies by 19.4% during the first quarter. Kellett Wealth Advisors LLC now owns 3,581 shares of the company's stock valued at $302,000 after acquiring an additional 581 shares in the last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in Palantir Technologies in the first quarter valued at approximately $3,317,000. Finally, Daymark Wealth Partners LLC grew its position in Palantir Technologies by 10.3% in the first quarter. Daymark Wealth Partners LLC now owns 10,678 shares of the company's stock worth $901,000 after acquiring an additional 998 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares of the company's stock, valued at $33,382,558.80. The trade was a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 in the last quarter. Insiders own 12.93% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. DA Davidson lifted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target for the company. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley increased their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded down $0.33 during midday trading on Wednesday, reaching $142.90. 61,226,838 shares of the company's stock were exchanged, compared to its average volume of 81,189,355. The company's 50 day simple moving average is $122.49 and its two-hundred day simple moving average is $98.22. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $147.59. The firm has a market capitalization of $337.23 billion, a PE ratio of 621.30, a price-to-earnings-growth ratio of 11.94 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 earnings per share. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.