Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Increased by Earned Wealth Advisors LLC

Earned Wealth Advisors LLC boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 95.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,607 shares of the company's stock after purchasing an additional 3,232 shares during the quarter. Earned Wealth Advisors LLC's holdings in Palantir Technologies were worth $558,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the 1st quarter worth about $25,000. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the 1st quarter worth about $33,000. Cornerstone Planning Group LLC raised its position in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. raised its position in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares of the company's stock, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider directly owned 592 shares in the company, valued at $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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 corporate insiders.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. 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 report on Tuesday, May 6th. Piper Sandler initiated coverage on shares of Palantir Technologies in a research report on Friday, July 25th. They set an "overweight" rating and a $170.00 price target on the stock. 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 report on Thursday, May 8th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $96.45.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $154.27 on Monday. The firm's 50 day simple moving average is $140.37 and its 200-day simple moving average is $112.57. The company has a market cap of $364.06 billion, a P/E ratio of 670.74, a price-to-earnings-growth ratio of 13.15 and a beta of 2.60. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $160.89.

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, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. On average, 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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