Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Raised by Legacy Advisors LLC

Legacy Advisors LLC lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 39.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,781 shares of the company's stock after buying an additional 2,186 shares during the quarter. Legacy Advisors LLC's holdings in Palantir Technologies were worth $657,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $450,000. TCW Group Inc. raised its holdings in shares of Palantir Technologies by 2.6% during the 4th quarter. TCW Group Inc. now owns 27,963 shares of the company's stock valued at $2,115,000 after purchasing an additional 708 shares in the last quarter. WealthShield Partners LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $283,000. Crestwood Advisors Group LLC boosted its holdings in Palantir Technologies by 113.1% in the fourth quarter. Crestwood Advisors Group LLC now owns 11,642 shares of the company's stock worth $880,000 after purchasing an additional 6,178 shares in the last quarter. Finally, Rothschild Investment LLC increased its position in Palantir Technologies by 22.9% during the fourth quarter. Rothschild Investment LLC now owns 8,454 shares of the company's stock worth $639,000 after buying an additional 1,573 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Up 2.4%

PLTR stock opened at $143.23 on Wednesday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86. The company has a market cap of $338.01 billion, a PE ratio of 622.74, a price-to-earnings-growth ratio of 11.94 and a beta of 2.64. The business's 50-day simple moving average is $122.49 and its 200 day simple moving average is $98.22.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLTR. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. The Goldman Sachs Group upped their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson boosted their price objective 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. Finally, Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $89.32.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the transaction, the insider now directly owns 403,171 shares of the company's stock, valued at $33,382,558.80. This trade represents a 19.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 in the last 90 days. 12.93% of the stock is currently owned by company 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.

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