Palantir Technologies Inc. (NASDAQ:PLTR) is Rockline Wealth Management LLC's 6th Largest Position

Rockline Wealth Management LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,233 shares of the company's stock after buying an additional 23,204 shares during the period. Palantir Technologies comprises approximately 2.6% of Rockline Wealth Management LLC's holdings, making the stock its 6th largest position. Rockline Wealth Management LLC's holdings in Palantir Technologies were worth $9,388,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new stake in shares of Palantir Technologies in the 4th quarter worth $289,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Palantir Technologies in the 4th quarter worth $15,177,000. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth $450,000. Strategic Financial Concepts LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth $245,000. Finally, Mattern Capital Management LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth $345,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $137.30 on Friday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $144.86. The firm has a market capitalization of $324.02 billion, a P/E ratio of 596.96, a price-to-earnings-growth ratio of 11.95 and a beta of 2.64. The company's 50-day moving average is $120.65 and its 200 day moving average is $97.09.

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 analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the company posted $0.08 EPS. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now directly owns 403,171 shares in the company, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction 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. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 in the last ninety days. 9.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PLTR shares. UBS Group upped their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $89.32.

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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