Watershed Private Wealth LLC Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Watershed Private Wealth LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,448 shares of the company's stock, valued at approximately $375,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $27,000. HighMark Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after buying an additional 166 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $31,000. R Squared Ltd bought a new position in shares of Palantir Technologies in the fourth quarter worth $33,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Palantir Technologies in the fourth quarter worth $34,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 3,936 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $495,817.92. Following the transaction, the insider now owns 363,755 shares of the company's stock, valued at $45,822,217.35. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,894,925 shares of company stock valued at $369,820,528. 9.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, UBS Group lifted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Trading Up 6.5%

NASDAQ:PLTR traded up $7.81 during mid-day trading on Friday, hitting $127.72. 86,933,462 shares of the company's stock were exchanged, compared to its average volume of 80,061,597. The company has a 50 day simple moving average of $110.01 and a 200-day simple moving average of $92.16. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The firm has a market capitalization of $301.41 billion, a P/E ratio of 672.25, a PEG ratio of 10.84 and a beta of 2.64.

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. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate 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 for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.