JGP Wealth Management LLC Has $501,000 Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

JGP Wealth Management LLC decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,939 shares of the company's stock after selling 2,441 shares during the quarter. JGP Wealth Management LLC's holdings in Palantir Technologies were worth $501,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Roxbury Financial LLC bought a new stake in Palantir Technologies during the 4th quarter worth approximately $27,000. HighMark Wealth Management LLC lifted its position in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $31,000. R Squared Ltd bought a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $33,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $34,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Price Performance

NASDAQ:PLTR traded up $1.13 on Tuesday, hitting $133.17. 90,937,653 shares of the company's stock were exchanged, compared to its average volume of 79,011,033. The firm has a 50-day moving average price of $106.69 and a 200-day moving average price of $90.74. Palantir Technologies Inc. has a 52 week low of $21.01 and a 52 week high of $135.22. The company has a market cap of $314.27 billion, a P/E ratio of 700.93, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

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. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the prior year, the business posted $0.08 EPS. The business's revenue was up 39.4% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Bank of America increased their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Mizuho boosted their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group raised their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.95.

Insider Activity at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now directly owns 184,617 shares of the company's stock, valued at $15,993,370.71. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,901,701 shares of company stock worth $370,407,533. Insiders own 9.23% of the company's stock.

Palantir Technologies Profile

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.