Gradient Investments LLC Acquires Shares of 5,622 Palantir Technologies Inc. (NASDAQ:PLTR)

Gradient Investments LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,622 shares of the company's stock, valued at approximately $474,000.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at about $27,000. HighMark Wealth Management LLC boosted its position in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after buying an additional 166 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $31,000. R Squared Ltd purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $33,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $34,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was 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 in the company, valued at $50,497.60. This trade represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 39,825 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $5,016,755.25. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,894,925 shares of company stock worth $369,820,528 over the last quarter. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR traded down $3.16 during trading hours on Wednesday, hitting $130.01. 97,055,463 shares of the company were exchanged, compared to its average volume of 79,263,609. The company has a market capitalization of $306.81 billion, a PE ratio of 684.30, a PEG ratio of 10.84 and a beta of 2.64. The firm has a fifty day simple moving average of $107.55 and a 200-day simple moving average of $91.04. Palantir Technologies Inc. has a one year low of $21.04 and a one year high of $135.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released 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. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLTR. DA Davidson upped their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Northland Securities increased their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a report on Tuesday, February 4th. Cantor Fitzgerald increased their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies 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 given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $83.95.

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.