Royal Capital Wealth Management LLC Acquires Shares of 3,200 Palantir Technologies Inc. (NASDAQ:PLTR)

Royal Capital Wealth Management LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,200 shares of the company's stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also bought and sold shares of PLTR. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $28,000. HighMark Wealth Management LLC lifted its position in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $31,000. Finally, R Squared Ltd purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $33,000. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Bank of America increased their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. DA Davidson raised their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Mizuho raised their price objective on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $83.95.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the sale, the insider now directly owns 702,786 shares in the company, valued at $64,958,509.98. The trade was a 4.09% decrease in their position. The transaction 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 the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,964,290 shares of company stock valued at $250,504,866. 9.23% of the stock is owned by insiders.

Palantir Technologies Price Performance

PLTR opened at $125.59 on Wednesday. The stock has a 50-day moving average price of $100.49 and a 200-day moving average price of $86.30. The firm has a market cap of $294.55 billion, a PE ratio of 661.03, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 1 year low of $20.63 and a 1 year high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. 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 EPS. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.