Jacobsen Capital Management Purchases Shares of 3,701 Palantir Technologies Inc. (NASDAQ:PLTR)

Jacobsen Capital Management acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,701 shares of the company's stock, valued at approximately $312,000.

Several other institutional investors also recently modified their holdings of PLTR. Norges Bank bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 4,127,306 shares during the period. Wellington Management Group LLP increased its holdings in shares of 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 acquiring an additional 3,907,022 shares during the last quarter. Invesco Ltd. raised its stake in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Finally, Capital World Investors acquired a new stake in Palantir Technologies during the 4th quarter valued at $253,816,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research report on Wednesday. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Mizuho raised their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Finally, William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Performance

PLTR opened at $130.74 on Monday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The firm has a market cap of $308.53 billion, a P/E ratio of 568.43, a price-to-earnings-growth ratio of 11.16 and a beta of 2.64. The business's fifty day moving average is $125.24 and its 200-day moving average is $99.81.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather A. Planishek bought 10,000 shares of the stock in a transaction on Thursday, May 8th. The shares were acquired at an average cost of $116.14 per share, with a total value of $1,161,400.00. Following the purchase, the insider now owns 58,006 shares of the company's stock, valued at approximately $6,736,816.84. This represents a 20.83% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 1,408,748 shares of company stock worth $180,327,603 over the last three months. Corporate insiders own 12.93% 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.

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