San Luis Wealth Advisors LLC Purchases Shares of 2,613 Palantir Technologies Inc. (NASDAQ:PLTR)

San Luis Wealth Advisors LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,613 shares of the company's stock, valued at approximately $221,000.

Several other hedge funds have also added to or reduced their stakes in the business. PKO Investment Management Joint Stock Co bought a new position in shares of Palantir Technologies in the first quarter worth $3,376,000. Wagner Wealth Management LLC bought a new position in shares of Palantir Technologies in the first quarter worth $246,000. Chicago Capital LLC increased its position in shares of Palantir Technologies by 68.7% in the first quarter. Chicago Capital LLC now owns 244,883 shares of the company's stock worth $20,668,000 after purchasing an additional 99,728 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of Palantir Technologies by 4.0% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 130,328 shares of the company's stock worth $11,000,000 after purchasing an additional 5,058 shares during the period. Finally, Vivid Wealth Management LLC bought a new position in shares of Palantir Technologies in the first quarter worth $2,095,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PLTR shares. Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Mizuho raised their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $86.30.

Insiders Place Their Bets

In other news, insider Heather A. Planishek acquired 10,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was purchased at an average price of $116.14 per share, for a total transaction of $1,161,400.00. Following the completion of the acquisition, the insider now directly owns 58,006 shares in the company, valued at $6,736,816.84. The trade was a 20.83% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 403,171 shares of the company's stock, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $141.41 on Tuesday. The company has a market cap of $333.72 billion, a P/E ratio of 744.30, a PEG ratio of 10.84 and a beta of 2.64. The stock has a 50 day simple moving average of $116.76 and a two-hundred day simple moving average of $95.53. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week 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 for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 earnings per share. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share 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.

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