Sowell Financial Services LLC Has $5.24 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Sowell Financial Services LLC boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 62,090 shares of the company's stock after buying an additional 6,180 shares during the period. Sowell Financial Services LLC's holdings in Palantir Technologies were worth $5,240,000 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. Mission Wealth Management LP grew its stake in Palantir Technologies by 7.8% in the 1st quarter. Mission Wealth Management LP now owns 11,345 shares of the company's stock valued at $958,000 after buying an additional 817 shares during the last quarter. Brown Miller Wealth Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth approximately $328,000. Conway Capital Management Inc. acquired a new position in shares of Palantir Technologies during the 1st quarter worth approximately $258,000. Acropolis Investment Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth approximately $190,000. Finally, Good Life Advisors LLC grew its position in shares of Palantir Technologies by 13.0% during the 1st quarter. Good Life Advisors LLC now owns 21,802 shares of the company's stock worth $1,840,000 after purchasing an additional 2,513 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock worth $188,456,658 over the last three months. 9.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PLTR shares. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Citigroup increased their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Mizuho upped their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a report on Wednesday, June 11th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Loop Capital upped their price target on shares of Palantir Technologies from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $86.30.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $137.40 on Monday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $140.43. The firm has a 50 day moving average price of $115.48 and a two-hundred day moving average price of $95.01. The stock has a market cap of $324.25 billion, a P/E ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm 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 posted $0.08 EPS. The company's revenue was up 39.4% on a year-over-year basis. Analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Palantir Technologies 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.

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