Fortem Financial Group LLC Has $7.20 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Fortem Financial Group LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 85,339 shares of the company's stock after acquiring an additional 9,909 shares during the period. Palantir Technologies comprises about 2.8% of Fortem Financial Group LLC's portfolio, making the stock its 4th largest holding. Fortem Financial Group LLC's holdings in Palantir Technologies were worth $7,203,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $450,000. Assetmark Inc. lifted its holdings in shares of Palantir Technologies by 46.3% in the fourth quarter. Assetmark Inc. now owns 1,191 shares of the company's stock valued at $90,000 after purchasing an additional 377 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $522,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $549,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Palantir Technologies by 78.7% in the fourth quarter. Farther Finance Advisors LLC now owns 22,863 shares of the company's stock valued at $1,729,000 after purchasing an additional 10,071 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

PLTR has been the subject of a number of research analyst reports. DA Davidson increased their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $90.37.

Palantir Technologies Stock Down 0.4%

PLTR stock traded down $0.57 during mid-day trading on Tuesday, reaching $148.58. 58,891,012 shares of the stock traded hands, compared to its average volume of 83,223,136. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $150.57. The business has a 50-day moving average of $131.31 and a two-hundred day moving average of $104.45. The firm has a market capitalization of $350.64 billion, a PE ratio of 646.00, a P/E/G ratio of 12.13 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the company earned $0.08 earnings per share. The firm's revenue was up 39.4% on a year-over-year basis. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 3,418 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated 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. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,452,297 shares of company stock valued at $186,222,373 in the last quarter. 12.93% of the stock is currently owned by insiders.

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.