LifeWealth Investments LLC Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

LifeWealth Investments LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,895 shares of the company's stock, valued at approximately $244,000.

Several other large investors have also recently modified their holdings of PLTR. Assenagon Asset Management S.A. boosted its stake in Palantir Technologies by 15.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the period. Pitcairn Co. purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $281,000. Sagespring Wealth Partners LLC boosted its position in shares of Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after acquiring an additional 6,405 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Palantir Technologies during the fourth quarter valued at approximately $52,033,000. Finally, CX Institutional bought a new stake in Palantir Technologies during the 1st quarter worth approximately $62,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the transaction, the insider now directly owns 403,171 shares in the company, valued at approximately $33,382,558.80. The trade was a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 in the last ninety days. 9.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note 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 report on Thursday, May 8th. Finally, Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Performance

PLTR traded up $1.76 during midday trading on Thursday, hitting $139.96. The stock had a trading volume of 58,100,428 shares, compared to its average volume of 81,096,965. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $144.86. The business has a fifty day moving average of $118.64 and a 200 day moving average of $96.13. The company has a market cap of $330.29 billion, a P/E ratio of 608.52, a price-to-earnings-growth ratio of 11.66 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the firm earned $0.08 EPS. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.