Leelyn Smith LLC Takes $421,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Leelyn Smith LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,992 shares of the company's stock, valued at approximately $421,000.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC grew its holdings 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 worth $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP raised its position in Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares during the last quarter. Invesco Ltd. lifted its stake in Palantir Technologies by 31.2% during 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 in the last quarter. Finally, Capital World Investors purchased a new position in Palantir Technologies during the 4th quarter worth $253,816,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. 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 research report on Tuesday, May 6th. Citigroup boosted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley increased their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average price target of $90.37.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 39,825 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $5,016,755.25. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $810,271,540.26. This represents a 0.62% 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 firm'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 transaction of $53,492,400.00. Following the transaction, the insider directly owned 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. Insiders sold a total of 1,452,297 shares of company stock valued at $186,222,373 over the last ninety days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Up 5.0%

Shares of NASDAQ PLTR traded up $7.05 during mid-day trading on Monday, reaching $149.15. 81,498,736 shares of the company were exchanged, compared to its average volume of 96,976,188. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $149.58. The company's 50 day moving average price is $130.81 and its 200 day moving average price is $103.96. The stock has a market capitalization of $351.98 billion, a PE ratio of 648.48, a PEG ratio of 12.13 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to analyst estimates 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 for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.