Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Wealth Alliance LLC

Wealth Alliance LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 44.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,166 shares of the company's stock after acquiring an additional 1,888 shares during the quarter. Wealth Alliance LLC's holdings in Palantir Technologies were worth $520,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PLTR. Norges Bank acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $1,360,191,000. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Wellington Management Group LLP increased its holdings in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after acquiring an additional 3,907,022 shares during the period. Invesco Ltd. increased its holdings in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Finally, Capital World Investors acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $253,816,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the transaction, the director owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. The trade was a 1.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total transaction of $5,000,250.00. Following the completion of the transaction, the insider directly owned 363,755 shares of the company's stock, valued at $54,563,250. The trade was a 8.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,485,632 shares of company stock worth $191,222,623. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLTR. Morgan Stanley boosted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Citigroup boosted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Wedbush set a $160.00 price target on shares of Palantir Technologies in a research note on Thursday, July 10th. Finally, Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $91.37.

Palantir Technologies Stock Down 1.1%

Palantir Technologies stock opened at $151.79 on Tuesday. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $155.68. The firm's 50-day simple moving average is $134.33 and its 200 day simple moving average is $106.57. The firm has a market capitalization of $358.21 billion, a PE ratio of 659.96, a P/E/G ratio of 13.11 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the firm earned $0.08 EPS. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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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