Palantir Technologies Inc. (NASDAQ:PLTR) Position Boosted by StoneCrest Wealth Management Inc.

StoneCrest Wealth Management Inc. lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 30.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,376 shares of the company's stock after purchasing an additional 2,168 shares during the period. StoneCrest Wealth Management Inc.'s holdings in Palantir Technologies were worth $791,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Sard Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 5.4% during the first quarter. Sard Wealth Management Group LLC now owns 3,099 shares of the company's stock worth $262,000 after purchasing an additional 159 shares during the last quarter. Sovereign Financial Group Inc. lifted its position in shares of Palantir Technologies by 10.0% during the first quarter. Sovereign Financial Group Inc. now owns 3,427 shares of the company's stock worth $289,000 after purchasing an additional 312 shares during the last quarter. IAM Advisory LLC bought a new position in shares of Palantir Technologies during the first quarter worth about $865,000. Prospect Financial Services LLC lifted its position in shares of Palantir Technologies by 0.7% during the first quarter. Prospect Financial Services LLC now owns 37,353 shares of the company's stock worth $3,153,000 after purchasing an additional 272 shares during the last quarter. Finally, AGH Wealth Advisors LLC bought a new position in shares of Palantir Technologies during the first quarter worth about $278,000. Institutional investors own 45.65% of the company's stock.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $45,371,734.98. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,894,925 shares of company stock worth $369,820,528 over the last three months. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 6.5%

Shares of NASDAQ:PLTR opened at $127.72 on Friday. The firm's 50 day moving average is $110.01 and its two-hundred day moving average is $92.16. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $135.28. The firm has a market capitalization of $301.41 billion, a P/E ratio of 672.25, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 earnings per share. Analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLTR. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. DA Davidson increased their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, UBS Group increased their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $83.95.

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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