Mascagni Wealth Management Inc. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Mascagni Wealth Management Inc. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 27,209 shares of the company's stock, valued at approximately $2,058,000. Palantir Technologies accounts for approximately 1.8% of Mascagni Wealth Management Inc.'s portfolio, making the stock its 9th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. M1 Capital Management LLC bought a new position in Palantir Technologies in the fourth quarter worth approximately $394,000. Objective Capital Management LLC bought a new stake in Palantir Technologies during the 4th quarter valued at $216,000. Thoma Capital Management LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth $383,000. NorthCrest Asset Manangement LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth $366,000. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Palantir Technologies during the 4th quarter worth $50,486,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

PLTR traded up $0.37 on Wednesday, reaching $123.76. The company's stock had a trading volume of 64,203,392 shares, compared to its average volume of 78,060,500. Palantir Technologies Inc. has a 1 year low of $20.64 and a 1 year high of $133.49. The business's 50 day moving average is $104.78 and its 200 day moving average is $88.97. The stock has a market cap of $290.26 billion, a price-to-earnings ratio of 651.40, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

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. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business's revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. DA Davidson lifted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $83.95.

Insiders Place Their Bets

In other news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. This trade represents a 3.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business'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 completion of the sale, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,901,701 shares of company stock valued at $370,407,533 in the last ninety days. Corporate insiders own 9.23% of the company's stock.

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.