Pure Financial Advisors LLC Buys 1,874 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Pure Financial Advisors LLC grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,998 shares of the company's stock after buying an additional 1,874 shares during the period. Pure Financial Advisors LLC's holdings in Palantir Technologies were worth $928,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLTR. Geode Capital Management LLC grew its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 20.4% in the 4th 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 during the period. Norges Bank bought a new stake in Palantir Technologies in the fourth quarter worth $1,360,191,000. FMR LLC boosted its position in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after buying an additional 2,818,090 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Palantir Technologies by 31.2% during 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 last quarter. Institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $144.25 on Friday. The firm has a market capitalization 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 Inc. has a one year low of $21.23 and a one year high of $148.22. The company's 50-day simple moving average is $124.50 and its 200 day simple moving average is $99.02.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 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 firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the firm posted $0.08 EPS. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares of the company's stock, valued at $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider now owns 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock worth $188,456,658 in the last quarter. Corporate insiders own 9.23% of the company's stock.

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.

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