Sagespring Wealth Partners LLC Purchases 6,405 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Sagespring Wealth Partners LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 36.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,054 shares of the company's stock after acquiring an additional 6,405 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Palantir Technologies were worth $2,030,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Variant Private Wealth LLC acquired a new position in Palantir Technologies in the first quarter worth about $551,000. Shikiar Asset Management Inc. grew its stake in shares of Palantir Technologies by 31.7% in the 1st quarter. Shikiar Asset Management Inc. now owns 18,436 shares of the company's stock valued at $1,556,000 after purchasing an additional 4,436 shares during the period. Sowell Financial Services LLC raised its holdings in shares of Palantir Technologies by 11.1% in the 1st quarter. Sowell Financial Services LLC now owns 62,090 shares of the company's stock worth $5,240,000 after buying an additional 6,180 shares in the last quarter. Mission Wealth Management LP lifted its position in shares of Palantir Technologies by 7.8% during the 1st quarter. Mission Wealth Management LP now owns 11,345 shares of the company's stock worth $958,000 after buying an additional 817 shares during the period. Finally, Brown Miller Wealth Management LLC acquired a new stake in Palantir Technologies in the 1st quarter valued at $328,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,506,925 shares of company stock valued at $188,456,658. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Up 2.9%

Shares of Palantir Technologies stock opened at $141.41 on Tuesday. The business has a fifty day simple moving average of $116.76 and a 200 day simple moving average of $95.53. The stock has a market cap of $333.72 billion, a PE ratio of 744.30, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $144.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its 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. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 earnings per share. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PLTR shares. Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Cantor Fitzgerald increased their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $86.30.

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.

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.