Melfa Wealth Management Inc. Invests $211,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Melfa Wealth Management Inc. bought 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 Securities & Exchange Commission. The fund bought 2,500 shares of the company's stock, valued at approximately $211,000.

A number of other institutional investors have also added to or reduced their stakes in PLTR. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 8.6% in 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 acquiring an additional 4,127,306 shares during the period. Northern Trust Corp lifted its position in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank bought a new stake in Palantir Technologies during the fourth quarter worth about $1,360,191,000. FMR LLC lifted its position in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Finally, Invesco Ltd. lifted 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 worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $91.37.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $0.57 during trading hours on Friday, reaching $153.42. The company's stock had a trading volume of 39,742,237 shares, compared to its average volume of 83,243,737. The firm has a fifty day simple moving average of $133.61 and a 200-day simple moving average of $105.61. The stock has a market cap of $362.06 billion, a P/E ratio of 666.60, a P/E/G ratio of 12.88 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $155.68.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the sale, the director owned 2,348 shares of the company's stock, valued at approximately $307,470.60. This represents a 81.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the 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 sale, 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. In the last three months, insiders have sold 1,485,632 shares of company stock worth $191,222,623. Company insiders own 9.23% of the company's stock.

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.