Free Trial

SMART Wealth LLC Makes New $980,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies logo with Computer and Technology background

SMART Wealth LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,606 shares of the company's stock, valued at approximately $980,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Richardson Capital Management LLC purchased a new stake in Palantir Technologies in the first quarter worth $33,000. Godsey & Gibb Inc. boosted its holdings in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after buying an additional 370 shares in the last quarter. Arlington Trust Co LLC grew its position in shares of Palantir Technologies by 542.9% in the 1st quarter. Arlington Trust Co LLC now owns 450 shares of the company's stock worth $38,000 after buying an additional 380 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth about $34,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Palantir Technologies in the 4th quarter worth about $35,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $2.15 during midday trading on Friday, hitting $134.27. 41,812,483 shares of the stock traded hands, compared to its average volume of 82,906,073. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22. The firm has a 50-day moving average of $128.04 and a two-hundred day moving average of $101.06. The firm has a market capitalization of $316.85 billion, a P/E ratio of 583.76, a PEG ratio of 11.47 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted 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 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm's revenue was up 39.4% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the sale, the insider owned 367,691 shares of the company's stock, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,451,497 shares of company stock worth $186,110,685 in the last quarter. Company insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on PLTR. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. DA Davidson raised their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $89.32.

Check Out Our Latest Research Report on PLTR

Palantir Technologies Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

Should You Invest $1,000 in Palantir Technologies Right Now?

Before you consider Palantir Technologies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palantir Technologies wasn't on the list.

While Palantir Technologies currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

A Beginner's Guide to Investing in Cannabis Cover

Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Palantir at All-Time Highs: Take Profits or Hold the Line?
Top 3 Defense Stocks to Profit From $175 Billion Golden Dome
Palantir’s Big Moves: Profit-Taking, Price Targets & AI Potential

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines