N.E.W. Advisory Services LLC Acquires 5,276 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• N.E.W. Advisory Services LLC has increased its stake in Palantir Technologies Inc. by 23.9%, owning a total of 27,373 shares valued at approximately $2,310,000.
• Insider Ryan D. Taylor sold 33,335 shares of Palantir stock for $5,000,250, reducing his ownership by 8.39%, while other insiders collectively sold over 1.4 million shares in the last 90 days.
• Palantir's recent quarterly earnings met analysts' expectations with an EPS of $0.13 and a revenue of $883.86 million, a 39.4% increase year-over-year.

N.E.W. Advisory Services LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 23.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,373 shares of the company's stock after buying an additional 5,276 shares during the period. N.E.W. Advisory Services LLC's holdings in Palantir Technologies were worth $2,310,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 8.6% in the 4th 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 in the last quarter. Northern Trust Corp increased its position in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. FMR LLC increased its position in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Invesco Ltd. increased its position in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Palantir Technologies by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock valued at $1,099,861,000 after purchasing an additional 187,860 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Loop Capital increased their price objective on Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler initiated coverage on Palantir Technologies in a research report on Friday, July 25th. They set an "overweight" rating and a $170.00 price objective on the stock. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $96.45.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock worth $191,222,623 over the last quarter. Company insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 2.4%

Shares of PLTR stock traded down $3.85 during trading hours on Friday, reaching $154.50. The company's stock had a trading volume of 50,206,965 shares, compared to its average volume of 92,459,664. The stock has a market capitalization of $364.60 billion, a P/E ratio of 672.33, a P/E/G ratio of 13.52 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.89. The firm's fifty day simple moving average is $139.76 and its 200 day simple moving average is $111.35.

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

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.