Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Morse Asset Management Inc

Morse Asset Management Inc grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,269 shares of the company's stock after purchasing an additional 6,347 shares during the quarter. Morse Asset Management Inc's holdings in Palantir Technologies were worth $2,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CBIZ Investment Advisory Services LLC lifted its stake in Palantir Technologies by 118.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock worth $35,000 after acquiring an additional 224 shares during the last quarter. Elyxium Wealth LLC lifted its stake in Palantir Technologies by 8.0% in the first quarter. Elyxium Wealth LLC now owns 10,796 shares of the company's stock worth $911,000 after acquiring an additional 796 shares during the last quarter. Covenant Asset Management LLC lifted its stake in Palantir Technologies by 51.1% in the first quarter. Covenant Asset Management LLC now owns 4,009 shares of the company's stock worth $338,000 after acquiring an additional 1,355 shares during the last quarter. Cassaday & Co Wealth Management LLC lifted its stake in Palantir Technologies by 1.6% in the first quarter. Cassaday & Co Wealth Management LLC now owns 12,485 shares of the company's stock worth $1,054,000 after acquiring an additional 198 shares during the last quarter. Finally, Calton & Associates Inc. lifted its stake in Palantir Technologies by 1,086.2% in the first quarter. Calton & Associates Inc. now owns 41,340 shares of the company's stock worth $3,489,000 after acquiring an additional 37,855 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 0.3%

NASDAQ:PLTR opened at $153.52 on Friday. The firm has a market cap of $362.29 billion, a price-to-earnings ratio of 667.48, a price-to-earnings-growth ratio of 13.11 and a beta of 2.59. The company's 50-day moving average is $134.33 and its two-hundred day moving average is $106.36. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $155.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting 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 firm earned $0.08 EPS. The firm's quarterly revenue was up 39.4% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 completion of the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the sale, the director directly owned 2,348 shares of the company's stock, valued at $307,470.60. This trade represents a 81.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,485,632 shares of company stock worth $191,222,623. Insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLTR. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $91.37.

Palantir Technologies 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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