Navellier & Associates Inc. Has $5.98 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Navellier & Associates Inc. lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 108.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,888 shares of the company's stock after buying an additional 36,927 shares during the period. Navellier & Associates Inc.'s holdings in Palantir Technologies were worth $5,983,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Allegiance Financial Group Advisory Services LLC raised its position in shares of Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after purchasing an additional 84 shares during the period. Sovran Advisors LLC grew its holdings in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after buying an additional 94 shares in the last quarter. Lodestone Wealth Management LLC grew its holdings in shares of Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its holdings in shares of Palantir Technologies by 0.5% during the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after buying an additional 99 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of PLTR traded up $3.94 during trading hours on Friday, hitting $158.80. 57,707,820 shares of the company were exchanged, compared to its average volume of 64,807,624. The company has a market cap of $374.75 billion, a PE ratio of 690.43, a PEG ratio of 13.22 and a beta of 2.59. The firm's 50 day moving average is $137.03 and its 200-day moving average is $108.85. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $160.39.

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 for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the previous year, the firm earned $0.08 EPS. The firm's revenue was up 39.4% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research analyst reports. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Citigroup lifted their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, The Goldman Sachs Group lifted their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $95.30.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 in the last ninety days. 9.23% of the stock is owned by insiders.

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.