OneAscent Investment Solutions LLC Purchases New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• OneAscent Investment Solutions LLC acquired a new stake in Palantir Technologies, purchasing 3,965 shares valued at approximately $335,000 in the first quarter.
• A significant number of other institutional investors also increased their holdings in Palantir during the same period, indicating growing confidence in the company.
• On the analyst front, Palantir Technologies received varied ratings, with a consensus "Hold" rating and a target price of $136.61 among analysts.

OneAscent Investment Solutions LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,965 shares of the company's stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sienna Gestion purchased a new position in Palantir Technologies in the first quarter valued at about $390,000. E Fund Management Co. Ltd. boosted its holdings in Palantir Technologies by 88.1% in the first quarter. E Fund Management Co. Ltd. now owns 128,185 shares of the company's stock valued at $10,819,000 after purchasing an additional 60,052 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its holdings in Palantir Technologies by 281.1% in the first quarter. Financial Network Wealth Advisors LLC now owns 484 shares of the company's stock valued at $41,000 after purchasing an additional 357 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Palantir Technologies by 6.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 64,979 shares of the company's stock valued at $5,484,000 after purchasing an additional 3,920 shares during the last quarter. Finally, NFP Retirement Inc. lifted its holdings in Palantir Technologies by 10.4% during the 1st quarter. NFP Retirement Inc. now owns 4,169 shares of the company's stock worth $352,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the sale, the insider directly owned 363,755 shares in the company, valued at $63,657,125. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock worth $196,472,623 over the last quarter. Insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PLTR. Wall Street Zen raised Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Royal Bank Of Canada increased their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Loop Capital increased their target price on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wedbush set a $200.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald increased their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Price Performance

PLTR opened at $184.37 on Thursday. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00. The stock has a market cap of $435.10 billion, a P/E ratio of 614.59, a P/E/G ratio of 10.54 and a beta of 2.60. The stock's 50 day moving average price is $148.82 and its 200 day moving average price is $117.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same period last year, the firm earned $0.09 EPS. The firm's revenue was up 48.0% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.

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