Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management increased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 96.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,999 shares of the company's stock after buying an additional 10,318 shares during the period. Ritholtz Wealth Management's holdings in Palantir Technologies were worth $1,772,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in Palantir Technologies by 8.6% in 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 purchasing an additional 4,127,306 shares during the period. Northern Trust Corp lifted its position in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after buying an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. FMR LLC lifted 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 in the last quarter. Finally, Invesco Ltd. lifted its position in 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 in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLTR. DA Davidson lifted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. UBS Group lifted their price target 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. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, Daiwa Capital Markets initiated 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 on the stock. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $1.76 during midday trading on Wednesday, reaching $139.96. The company had a trading volume of 58,100,428 shares, compared to its average volume of 81,096,948. The stock's fifty day moving average price is $117.68 and its 200-day moving average price is $95.83. The stock has a market capitalization of $330.29 billion, a P/E ratio of 1,151.67, a PEG ratio of 11.66 and a beta of 2.64. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $144.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly 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 net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The business's revenue was up 39.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction 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 completion of the sale, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock worth $188,456,658 over the last 90 days. Insiders own 9.23% of the company's stock.

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.