Madison Wealth Partners Inc Takes $277,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Madison Wealth Partners Inc purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,277 shares of the company's stock, valued at approximately $277,000.

Several other hedge funds have also recently bought and sold shares of PLTR. First Command Advisory Services Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $34,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $34,000. Fairfield Financial Advisors LTD bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $35,000. Godsey & Gibb Inc. raised its stake in Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after acquiring an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in Palantir Technologies during the 4th quarter valued at $36,000. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Shyam Sankar sold 150,814 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $19,061,381.46. Following the transaction, the insider now directly owns 702,786 shares of the company's stock, valued at approximately $88,825,122.54. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $74,822.88. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 over the last 90 days. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Down 1.9%

Shares of Palantir Technologies stock opened at $137.30 on Friday. The stock's fifty day moving average is $120.65 and its 200-day moving average is $97.28. The firm has a market capitalization of $324.02 billion, a PE ratio of 596.96, a price-to-earnings-growth ratio of 11.72 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $144.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent analyst reports. Mizuho lifted 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. Morgan Stanley lifted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $89.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.