Sweeney & Michel LLC Acquires Shares of 7,618 Palantir Technologies Inc. (NASDAQ:PLTR)

Sweeney & Michel LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,618 shares of the company's stock, valued at approximately $589,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $1,360,191,000. Geode Capital Management LLC boosted its stake in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP boosted its stake in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its stake in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. The Goldman Sachs Group upped their target price on 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 upped their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Finally, DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $83.95.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 3,936 shares of Palantir Technologies stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $495,817.92. Following the completion of the transaction, the insider now directly owns 363,755 shares in the company, valued at approximately $45,822,217.35. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction on 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 completion of the sale, the insider now owns 592 shares in the company, valued at approximately $50,497.60. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,894,925 shares of company stock worth $369,820,528. 9.23% of the stock is owned by insiders.

Palantir Technologies Price Performance

NASDAQ:PLTR traded up $0.01 during midday trading on Thursday, hitting $130.02. The company's stock had a trading volume of 46,569,255 shares, compared to its average volume of 79,315,448. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The firm's 50 day moving average is $108.44 and its 200-day moving average is $91.31. The firm has a market cap of $306.84 billion, a P/E ratio of 684.35, a P/E/G 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 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the firm posted $0.08 EPS. The business's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current 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.