J.Safra Asset Management Corp Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

J.Safra Asset Management Corp bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,641 shares of the company's stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sovran Advisors LLC grew its position in Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after acquiring an additional 94 shares during the period. Continuum Advisory LLC raised its stake in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA boosted its holdings in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after acquiring an additional 111 shares in the last quarter. True Wealth Design LLC increased its holdings in Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Finally, Gemmer Asset Management LLC raised its position in Palantir Technologies by 1.6% in the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock valued at $639,000 after purchasing an additional 119 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Down 9.4%

NASDAQ:PLTR opened at $130.74 on Monday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22. The firm has a market capitalization of $308.53 billion, a price-to-earnings ratio of 568.43, a price-to-earnings-growth ratio of 11.16 and a beta of 2.64. The stock's 50 day moving average price is $125.24 and its two-hundred day moving average price is $99.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting 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 net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,408,748 shares of company stock valued at $180,327,603. Company insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of research reports. Mizuho raised their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, Cantor Fitzgerald raised 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. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Company 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.

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