Primoris Wealth Advisors LLC Has $2.74 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Primoris Wealth Advisors LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 30.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,500 shares of the company's stock after selling 14,050 shares during the quarter. Palantir Technologies comprises 2.1% of Primoris Wealth Advisors LLC's holdings, making the stock its 14th biggest position. Primoris Wealth Advisors LLC's holdings in Palantir Technologies were worth $2,743,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PLTR. Continuum Advisory LLC raised its holdings in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA grew its holdings in Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after acquiring an additional 111 shares during the last quarter. True Wealth Design LLC increased its position in Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after acquiring an additional 114 shares during the period. Gemmer Asset Management LLC raised its stake in shares of Palantir Technologies by 1.6% during the first quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock valued at $639,000 after acquiring an additional 119 shares during the last quarter. Finally, Synergy Asset Management LLC lifted its holdings in shares of Palantir Technologies by 1.7% during the first quarter. Synergy Asset Management LLC now owns 7,017 shares of the company's stock worth $592,000 after purchasing an additional 120 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock valued at $188,456,658 over the last three months. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $144.25 on Friday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The business's 50 day simple moving average is $124.50 and its two-hundred day simple moving average is $99.02. The firm has a market cap of $340.42 billion, a P/E ratio of 627.17, a PEG ratio of 12.20 and a beta of 2.64.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLTR. Citigroup increased their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. Finally, UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $89.32.

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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