Signature Wealth Management Partners LLC Takes $336,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Signature Wealth Management Partners LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,980 shares of the company's stock, valued at approximately $336,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Planning Inc increased its position in shares of Palantir Technologies by 11.3% during the first quarter. Asset Planning Inc now owns 1,480 shares of the company's stock valued at $125,000 after buying an additional 150 shares during the period. Headland Capital LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at about $235,000. Baker Avenue Asset Management LP increased its position in shares of Palantir Technologies by 13.3% during the first quarter. Baker Avenue Asset Management LP now owns 8,322 shares of the company's stock valued at $702,000 after buying an additional 978 shares during the period. MONECO Advisors LLC increased its position in shares of Palantir Technologies by 11.6% during the first quarter. MONECO Advisors LLC now owns 9,605 shares of the company's stock valued at $811,000 after buying an additional 996 shares during the period. Finally, Moors & Cabot Inc. increased its position in shares of Palantir Technologies by 5.0% during the first quarter. Moors & Cabot Inc. now owns 114,018 shares of the company's stock valued at $9,623,000 after buying an additional 5,474 shares during the period. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PLTR shares. Wedbush set a $160.00 price target on shares of Palantir Technologies in a research report on Thursday, July 10th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Piper Sandler began coverage on shares of Palantir Technologies in a research report on Friday, July 25th. They set an "overweight" rating and a $170.00 price target on the stock. UBS Group restated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Finally, Morgan Stanley upped their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and an average target price of $96.45.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider owned 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $154.27 on Friday. The firm's 50 day moving average price is $140.37 and its 200-day moving average price is $111.96. The company has a market cap of $364.06 billion, a PE ratio of 670.74, a P/E/G ratio of 13.50 and a beta of 2.60. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $160.89.

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 the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business's revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal 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.