WESPAC Advisors SoCal LLC Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

WESPAC Advisors SoCal LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,468 shares of the company's stock after purchasing an additional 2,458 shares during the period. WESPAC Advisors SoCal LLC's holdings in Palantir Technologies were worth $1,727,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Allegiance Financial Group Advisory Services LLC increased its stake in shares of Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares in the last quarter. Sovran Advisors LLC grew its holdings in shares of Palantir Technologies by 1.8% during the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after buying an additional 94 shares during the last quarter. Lodestone Wealth Management LLC grew its holdings in shares of Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its holdings in shares of Palantir Technologies by 0.5% during the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after buying an additional 99 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Palantir Technologies has an average rating of "Hold" and an average target price of $95.30.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Glazer sold 30,812 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the transaction, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $3.94 during trading on Friday, reaching $158.80. 57,540,972 shares of the company were exchanged, compared to its average volume of 94,045,109. The firm has a market capitalization of $374.75 billion, a PE ratio of 690.43, a P/E/G ratio of 13.20 and a beta of 2.59. The business's fifty day simple moving average is $136.44 and its 200-day simple moving average is $108.24. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.39.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS 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.