Principle Wealth Partners LLC Has $1.83 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Principle Wealth Partners LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 76.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,682 shares of the company's stock after acquiring an additional 9,393 shares during the quarter. Principle Wealth Partners LLC's holdings in Palantir Technologies were worth $1,830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLTR. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp lifted its position in shares of Palantir Technologies by 20.4% during the fourth 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 in the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth approximately $1,360,191,000. FMR LLC lifted its position in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 2.5%

PLTR stock traded up $3.94 during mid-day trading on Friday, hitting $158.80. The stock had a trading volume of 57,707,820 shares, compared to its average volume of 64,807,624. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $160.39. The firm has a market capitalization of $374.75 billion, a P/E ratio of 690.43, a P/E/G ratio of 13.22 and a beta of 2.59. The firm has a fifty day simple moving average of $137.03 and a 200 day simple moving average of $108.85.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting 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 net margin of 18.32% and a return on equity of 6.55%. The firm's revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director directly owned 62,887 shares in the company, valued at $8,779,654.07. This trade represents a 1.26% 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 worth $191,222,623 in the last ninety days. Insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLTR. DA Davidson upped their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Citigroup increased their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Piper Sandler started coverage on shares of Palantir Technologies in a research report on Friday. They set an "overweight" rating and a $170.00 price objective for the company. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Wedbush set a $160.00 target price on shares of Palantir Technologies in a research report on Thursday, July 10th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $95.30.

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.