Private Client Services LLC Acquires New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Private Client Services LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,958 shares of the company's stock, valued at approximately $334,000.

Other institutional investors have also modified their holdings of the company. Mather Group LLC. grew its position in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after acquiring an additional 448 shares during the last quarter. Destiny Wealth Partners LLC bought a new position in Palantir Technologies in the 4th quarter valued at about $3,233,000. American Institute for Advanced Investment Management LLP bought a new position in Palantir Technologies in the 4th quarter valued at about $246,000. Sage Advisors LLC bought a new position in Palantir Technologies in the 4th quarter valued at about $369,000. Finally, Hodges Capital Management Inc. bought a new position in Palantir Technologies in the 4th quarter valued at about $16,556,000. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 150,814 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $19,061,381.46. Following the completion of the sale, the insider now directly owns 702,786 shares of the company's stock, valued at $88,825,122.54. This represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,901,701 shares of company stock valued at $370,407,533 over the last three months. 9.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PLTR has been the subject of a number of recent analyst reports. Mizuho increased their target price on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. UBS Group increased their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Loop Capital raised their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Trading Up 3.5%

PLTR stock traded up $4.31 during mid-day trading on Friday, reaching $126.63. 185,234,367 shares of the stock traded hands, compared to its average volume of 78,766,972. Palantir Technologies Inc. has a 52-week low of $21.01 and a 52-week high of $133.49. The company has a market cap of $298.84 billion, a P/E ratio of 666.51, a P/E/G ratio of 10.84 and a beta of 2.68. The stock's fifty day moving average is $105.90 and its 200-day moving average is $89.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The business's quarterly revenue was up 39.4% on a year-over-year basis. Equities research analysts expect 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.