Peterson Wealth Services Has $7.24 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Peterson Wealth Services lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 62.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,805 shares of the company's stock after buying an additional 33,038 shares during the period. Palantir Technologies makes up about 2.2% of Peterson Wealth Services' portfolio, making the stock its 11th largest position. Peterson Wealth Services' holdings in Palantir Technologies were worth $7,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Assenagon Asset Management S.A. grew its position in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the last quarter. Pitcairn Co. purchased a new stake in Palantir Technologies during the fourth quarter worth $281,000. Sagespring Wealth Partners LLC boosted its holdings in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares in the last quarter. CX Institutional purchased a new position in Palantir Technologies during the first quarter valued at $62,000. Finally, Bessemer Group Inc. lifted its holdings in Palantir Technologies by 13.6% during the first quarter. Bessemer Group Inc. now owns 25,414 shares of the company's stock valued at $2,145,000 after purchasing an additional 3,050 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent analyst reports. DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets started 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 for the company. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average price target of $91.37.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 30,812 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the sale, the insider directly owned 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the transaction, the insider directly owned 592 shares in the company, valued at $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 sold a total of 1,485,632 shares of company stock valued at $191,222,623 over the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 1.8%

NASDAQ:PLTR traded down $2.72 during trading hours on Tuesday, hitting $149.07. The stock had a trading volume of 49,682,883 shares, compared to its average volume of 83,138,573. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $155.68. The business has a 50 day simple moving average of $134.33 and a two-hundred day simple moving average of $106.57. The company has a market cap of $351.79 billion, a PE ratio of 648.13, a price-to-earnings-growth ratio of 13.11 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business's revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. Research 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.