7,977 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Bought by Simplicity Wealth LLC

Simplicity Wealth LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 7,977 shares of the company's stock, valued at approximately $673,000.

Other large investors have also bought and sold shares of the company. Roxbury Financial LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at $27,000. HighMark Wealth Management LLC increased its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $31,000. First Command Advisory Services Inc. purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. 45.65% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies 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 completion of the sale, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. The trade was a 19.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. The trade was a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,661,925 shares of company stock worth $268,580,958 over the last quarter. Insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 0.9%

Shares of Palantir Technologies stock traded down $1.20 during trading on Thursday, hitting $135.19. 56,051,410 shares of the stock were exchanged, compared to its average volume of 80,529,565. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $140.00. The company has a fifty day moving average price of $113.13 and a 200-day moving average price of $93.63. The stock has a market capitalization of $319.04 billion, a price-to-earnings ratio of 711.56, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the prior year, the company earned $0.08 EPS. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PLTR shares. DA Davidson increased their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Morgan Stanley boosted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Finally, Citigroup lifted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $86.30.

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.