Parisi Gray Wealth Management Has $10.11 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Parisi Gray Wealth Management increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,768 shares of the company's stock after buying an additional 7,057 shares during the period. Palantir Technologies accounts for approximately 3.3% of Parisi Gray Wealth Management's investment portfolio, making the stock its 8th biggest position. Parisi Gray Wealth Management's holdings in Palantir Technologies were worth $10,108,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Octavia Wealth Advisors LLC increased its holdings in Palantir Technologies by 0.6% during the first quarter. Octavia Wealth Advisors LLC now owns 22,610 shares of the company's stock worth $1,908,000 after buying an additional 143 shares during the last quarter. International Private Wealth Advisors LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at $246,000. Investment Advisory Group LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at $269,000. Tounjian Advisory Partners LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at $1,178,000. Finally, Northstar Advisory Group LLC increased its holdings in shares of Palantir Technologies by 4.3% in the first quarter. Northstar Advisory Group LLC now owns 4,377 shares of the company's stock valued at $369,000 after purchasing an additional 181 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on PLTR. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Cantor Fitzgerald increased their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, William Blair set a $84.00 price target on shares of Palantir Technologies in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.95.

Insider Transactions at Palantir Technologies

In related news, Director Eric H. Woersching sold 17,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the completion of the transaction, the director now owns 12,562 shares in the company, valued at $1,624,140.98. This trade represents a 57.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 39,825 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $810,271,540.26. This trade represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,911,925 shares of company stock valued at $372,018,458. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 0.6%

Shares of PLTR stock traded up $0.75 during trading hours on Tuesday, reaching $132.81. The company's stock had a trading volume of 69,112,277 shares, compared to its average volume of 80,191,593. The firm's 50 day simple moving average is $110.90 and its 200-day simple moving average is $93.06. The company has a market capitalization of $313.42 billion, a price-to-earnings ratio of 699.04, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. 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 business earned $0.08 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.