New Wave Wealth Advisors LLC Buys 13,478 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

New Wave Wealth Advisors LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 124.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,284 shares of the company's stock after acquiring an additional 13,478 shares during the period. New Wave Wealth Advisors LLC's holdings in Palantir Technologies were worth $2,050,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. raised its position in Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after purchasing an additional 6,479 shares during the period. Pitcairn Co. purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $281,000. Sagespring Wealth Partners LLC raised its stake in shares of Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after acquiring an additional 6,405 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Palantir Technologies during the 4th quarter worth about $52,033,000. Finally, CX Institutional bought a new position in shares of Palantir Technologies during the first quarter valued at approximately $62,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek acquired 10,000 shares of the business's stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $116.14 per share, for a total transaction of $1,161,400.00. Following the acquisition, the insider now owns 58,006 shares in the company, valued at approximately $6,736,816.84. The trade was a 20.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,408,748 shares of company stock valued at $180,327,603. 12.93% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. DA Davidson increased their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research note on Wednesday. Cantor Fitzgerald upped their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley raised their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Stock Down 9.4%

Palantir Technologies stock opened at $130.74 on Monday. The business's 50-day moving average price is $125.24 and its 200 day moving average price is $99.81. The firm has a market cap of $308.53 billion, a price-to-earnings ratio of 568.43, a price-to-earnings-growth ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22.

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

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.

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