Palantir Technologies Inc. (NASDAQ:PLTR) is SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's 2nd Largest Position

Key Points

• SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co increased its stake in Palantir Technologies by 95.7%, acquiring an additional 47,388 shares to hold a total of 96,903 shares, representing 8.4% of its investment portfolio.
• Multiple hedge funds have also increased their investments in Palantir, with Prudential PLC raising its position by 216.4% during the same quarter.
• Palantir reported a 48% year-over-year increase in quarterly revenue, reaching $1 billion, and topped analyst EPS estimates by $0.02.

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 95.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 96,903 shares of the company's stock after buying an additional 47,388 shares during the period. Palantir Technologies makes up 8.4% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's portfolio, making the stock its 2nd largest holding. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's holdings in Palantir Technologies were worth $8,183,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies during the 1st quarter worth approximately $25,000. Cornerstone Planning Group LLC grew its position in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth approximately $33,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after purchasing an additional 125 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its position in shares of Palantir Technologies by 118.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock worth $35,000 after purchasing an additional 224 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Down 1.4%

Palantir Technologies stock traded down $2.60 during midday trading on Wednesday, hitting $184.37. 53,416,270 shares of the stock were exchanged, compared to its average volume of 60,256,280. The stock has a market capitalization of $435.10 billion, a price-to-earnings ratio of 614.59, a price-to-earnings-growth ratio of 10.54 and a beta of 2.60. Palantir Technologies Inc. has a 52-week low of $29.31 and a 52-week high of $190.00. The business's 50-day moving average price is $148.82 and its 200-day moving average price is $117.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same period in the previous year, the company earned $0.09 earnings per share. The company's quarterly revenue was up 48.0% on a year-over-year basis. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada raised their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Loop Capital lifted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and lifted their price target for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $136.61.

Insider Buying and Selling

In other news, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director owned 2,348 shares of the company's stock, valued at $307,470.60. The trade was a 81.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan D. Taylor sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the insider directly owned 363,755 shares in the company, valued at approximately $63,657,125. This trade represents a 7.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. 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.