Ascent Wealth Partners LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Ascent Wealth Partners LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 906.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,126 shares of the company's stock after purchasing an additional 30,734 shares during the quarter. Ascent Wealth Partners LLC's holdings in Palantir Technologies were worth $2,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PLTR. Geode Capital Management LLC boosted 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 worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Norges Bank bought a new position in Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. FMR LLC raised its position in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Palantir Technologies by 31.2% during 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 last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Palantir Technologies stock traded down $0.47 during midday trading on Friday, reaching $153.52. 45,673,387 shares of the stock were exchanged, compared to its average volume of 83,425,650. The company's fifty day moving average is $134.33 and its 200-day moving average is $106.36. The firm has a market cap of $362.29 billion, a PE ratio of 667.48, a PEG ratio of 13.11 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $155.68.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares in the company, valued at approximately $8,779,654.07. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, 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 a total of 1,485,632 shares of company stock worth $191,222,623 over the last ninety days. 12.93% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLTR. DA Davidson upped their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Finally, Wedbush set a $160.00 target price on shares of Palantir Technologies in a research report on Thursday, July 10th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $91.37.

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.