IAM Advisory LLC Takes $865,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

IAM Advisory LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,243 shares of the company's stock, valued at approximately $865,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter worth $1,360,191,000. Geode Capital Management LLC lifted its holdings in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. lifted its holdings in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors acquired a new position in Palantir Technologies during the 4th quarter worth $253,816,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research reports. UBS Group upped their price objective on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Stock Up 0.6%

Palantir Technologies stock traded up $0.75 during mid-day trading on Tuesday, hitting $132.81. 69,112,277 shares of the company's stock were exchanged, compared to its average volume of 80,191,593. The firm has a market capitalization of $313.42 billion, a P/E ratio of 699.04, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The company's 50 day simple moving average is $111.88 and its 200-day simple moving average is $93.33.

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

Insiders Place Their Bets

In other Palantir Technologies news, Director Eric H. Woersching sold 17,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the completion of the transaction, the director now owns 12,562 shares in the company, valued at approximately $1,624,140.98. This represents a 57.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 3,936 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $495,817.92. Following the transaction, the insider now owns 363,755 shares of the company's stock, valued at approximately $45,822,217.35. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,911,925 shares of company stock worth $372,018,458. 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.