Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by Wambolt & Associates LLC

Key Points

• Wambolt & Associates LLC raised its stake in Palantir Technologies by 11.4%, owning a total of 22,124 shares, valued at approximately $1.87 million.
• Palantir reported a quarterly earnings per share (EPS) of $0.16, exceeding analysts' expectations, with revenue reaching $1 billion, a 48% increase year-over-year.
• Several analysts have updated their ratings and price targets for Palantir, with the consensus rating being "Hold" and an average target price of $136.61.

Wambolt & Associates LLC lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 11.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,124 shares of the company's stock after acquiring an additional 2,268 shares during the quarter. Wambolt & Associates LLC's holdings in Palantir Technologies were worth $1,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. AlphaCore Capital LLC bought a new position in shares of Palantir Technologies in the first quarter worth $210,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Palantir Technologies by 13.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,020,664 shares of the company's stock worth $339,344,000 after acquiring an additional 483,245 shares during the period. Accuvest Global Advisors bought a new position in shares of Palantir Technologies in the first quarter worth $757,000. WealthPlan Investment Management LLC boosted its holdings in shares of Palantir Technologies by 8.1% in the first quarter. WealthPlan Investment Management LLC now owns 38,710 shares of the company's stock worth $3,267,000 after acquiring an additional 2,905 shares during the period. Finally, Ironwood Investment Counsel LLC boosted its holdings in shares of Palantir Technologies by 14.5% in the first quarter. Ironwood Investment Counsel LLC now owns 3,458 shares of the company's stock worth $292,000 after acquiring an additional 438 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PLTR shares. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday. DA Davidson lifted their price objective on Palantir Technologies from $115.00 to $170.00 and gave the company a "neutral" rating in a research note on Tuesday. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday. Bank of America lifted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and lifted their price objective for the company from $80.00 to $160.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Price Performance

NASDAQ PLTR traded up $4.76 on Friday, hitting $186.96. The stock had a trading volume of 62,386,781 shares, compared to its average volume of 61,219,692. The stock has a market cap of $441.21 billion, a price-to-earnings ratio of 623.22, a price-to-earnings-growth ratio of 11.57 and a beta of 2.60. Palantir Technologies Inc. has a 52-week low of $29.10 and a 52-week high of $187.99. The business's fifty day moving average price is $145.64 and its 200 day moving average price is $115.61.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same period in the prior year, the firm earned $0.09 EPS. The firm's revenue was up 48.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider David A. Glazer sold 3,418 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider directly owned 492,079 shares of the company's stock, valued at $61,987,191.63. This represents a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. The trade was a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,515,632 shares of company stock worth $196,472,623. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Company 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.