Opes Wealth Management LLC Acquires New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Opes Wealth Management LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,685 shares of the company's stock, valued at approximately $227,000.

A number of other institutional investors also recently modified their holdings of the business. M1 Capital Management LLC increased its holdings in Palantir Technologies by 29.7% in the 1st quarter. M1 Capital Management LLC now owns 6,758 shares of the company's stock worth $570,000 after purchasing an additional 1,548 shares in the last quarter. Wedbush Securities Inc. increased its holdings in Palantir Technologies by 30.3% in the 1st quarter. Wedbush Securities Inc. now owns 230,052 shares of the company's stock worth $19,416,000 after purchasing an additional 53,470 shares in the last quarter. Garrison Bradford & Associates Inc. acquired a new position in Palantir Technologies in the 1st quarter worth about $45,000. WESPAC Advisors SoCal LLC increased its holdings in Palantir Technologies by 13.6% in the 1st quarter. WESPAC Advisors SoCal LLC now owns 20,468 shares of the company's stock worth $1,727,000 after purchasing an additional 2,458 shares in the last quarter. Finally, Mount Lucas Management LP acquired a new position in Palantir Technologies in the 1st quarter worth about $325,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider directly owned 592 shares of the company's stock, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares of the company's stock, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock valued at $191,222,623 in the last quarter. Insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 2.5%

Shares of PLTR traded up $3.94 on Friday, reaching $158.80. 57,707,820 shares of the company's stock traded hands, compared to its average volume of 64,807,624. The stock has a market cap of $374.75 billion, a PE ratio of 1,290.50, a PEG ratio of 13.22 and a beta of 2.59. The stock's 50 day simple moving average is $136.44 and its two-hundred day simple moving average is $108.24. 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 issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. During the same period last year, the business posted $0.08 earnings per share. Analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Wedbush set a $160.00 target price on Palantir Technologies in a research report on Thursday, July 10th. The Goldman Sachs Group upped their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Piper Sandler initiated coverage on Palantir Technologies in a research report on Friday. They set an "overweight" rating and a $170.00 target price on the stock. Four research 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. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average price target of $95.30.

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.