HB Wealth Management LLC Boosts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• HB Wealth Management LLC increased its holdings in Palantir Technologies by 8.4%, owning a total of 61,892 shares worth approximately $5.2 million by the end of the quarter.
• Insider transactions revealed that two executives, Alexander C. Karp and David A. Glazer, sold a combined 389,794 shares recently, decreasing their ownership by about 5.3% and 5.9% respectively.
• Palantir Technologies reported a quarterly revenue of $883.86 million, surpassing analysts' expectations, with a year-over-year revenue growth of 39.4%.

HB Wealth Management LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,892 shares of the company's stock after acquiring an additional 4,822 shares during the quarter. HB Wealth Management LLC's holdings in Palantir Technologies were worth $5,224,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 8.6% during 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 purchasing an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP grew its position in Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after purchasing an additional 3,907,022 shares during the period. Invesco Ltd. grew its position in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Capital World Investors purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $253,816,000. Finally, Northern Trust Corp increased its stake in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the sale, the insider owned 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 over the last 90 days. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

PLTR stock traded up $1.65 during mid-day trading on Wednesday, hitting $157.89. 20,352,963 shares of the company were exchanged, compared to its average volume of 92,952,195. The firm has a market cap of $372.61 billion, a P/E ratio of 686.33, a P/E/G ratio of 13.46 and a beta of 2.59. The firm's 50 day simple moving average is $138.27 and its 200 day simple moving average is $110.37. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.39.

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 analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the business posted $0.08 earnings per share. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Morgan Stanley boosted their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Citigroup boosted their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $95.30.

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.