Palantir Technologies Inc. (NASDAQ:PLTR) Position Increased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 400,575 shares of the company's stock after buying an additional 6,130 shares during the period. Palantir Technologies makes up about 0.6% of Kestra Private Wealth Services LLC's portfolio, making the stock its 29th biggest holding. Kestra Private Wealth Services LLC's holdings in Palantir Technologies were worth $33,809,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Norges Bank purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC raised its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP raised its position in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after purchasing an additional 3,907,022 shares during the period. Invesco Ltd. raised its position in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Capital World Investors purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $253,816,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Down 0.3%

Palantir Technologies stock traded down $0.47 during midday trading on Friday, reaching $153.52. The company's stock had a trading volume of 45,673,387 shares, compared to its average volume of 83,425,650. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $155.68. The business has a 50-day simple moving average of $134.33 and a 200-day simple moving average of $106.36. The company has a market cap of $362.29 billion, a P/E ratio of 667.48, a P/E/G ratio of 13.11 and a beta of 2.59.

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 for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the company earned $0.08 EPS. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the transaction, the director directly owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. This trade represents a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Glazer sold 3,418 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider directly owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 over the last ninety days. Insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PLTR shares. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $116.00 to $135.00 in a research note on Wednesday. Morgan Stanley upped their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $91.37.

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.