Variant Private Wealth LLC Invests $551,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Variant Private Wealth LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,525 shares of the company's stock, valued at approximately $551,000.

A number of other large investors also recently modified their holdings of the company. Shikiar Asset Management Inc. lifted its position in Palantir Technologies by 31.7% during the first quarter. Shikiar Asset Management Inc. now owns 18,436 shares of the company's stock valued at $1,556,000 after purchasing an additional 4,436 shares during the last quarter. Sowell Financial Services LLC lifted its position in Palantir Technologies by 11.1% during the first quarter. Sowell Financial Services LLC now owns 62,090 shares of the company's stock valued at $5,240,000 after purchasing an additional 6,180 shares during the last quarter. Mission Wealth Management LP lifted its position in Palantir Technologies by 7.8% during the first quarter. Mission Wealth Management LP now owns 11,345 shares of the company's stock valued at $958,000 after purchasing an additional 817 shares during the last quarter. Brown Miller Wealth Management LLC bought a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $328,000. Finally, Conway Capital Management Inc. bought a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $258,000. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was 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 owns 403,171 shares in the company, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock valued at $188,456,658 over the last three months. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $137.40 on Monday. The company's fifty day moving average is $115.48 and its 200 day moving average is $95.01. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $140.43. The stock has a market capitalization of $324.25 billion, a PE ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64.

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, meeting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business's revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent research reports. DA Davidson boosted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Loop Capital upped their price target on shares of Palantir Technologies from $130.00 to $155.00 and gave the company a "buy" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Mizuho upped their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Finally, Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $86.30.

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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