West Branch Capital LLC Acquires 2,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

West Branch Capital LLC raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 28,571.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,007 shares of the company's stock after acquiring an additional 2,000 shares during the period. West Branch Capital LLC's holdings in Palantir Technologies were worth $169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Roxbury Financial LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $27,000. HighMark Wealth Management LLC boosted its holdings in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Palantir Technologies during the 4th quarter valued at $31,000. First Command Advisory Services Inc. acquired a new position in shares of Palantir Technologies during the 4th quarter valued at $34,000. Finally, Summit Securities Group LLC purchased a new stake in Palantir Technologies during the 4th quarter worth $34,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

PLTR has been the subject of several research reports. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target for the company. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group increased their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Loop Capital boosted their target price on shares of Palantir Technologies from $130.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $86.30.

Palantir Technologies Price Performance

NASDAQ PLTR traded up $2.21 on Friday, hitting $137.40. The company had a trading volume of 93,318,005 shares, compared to its average volume of 81,017,198. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $140.00. The company's fifty day moving average price is $115.48 and its 200-day moving average price is $94.81. The company has a market capitalization of $324.25 billion, a PE ratio of 723.20, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million for 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 firm's revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction 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 completion of the transaction, the insider now directly owns 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now directly owns 592 shares of the company's stock, valued at $51,545.44. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,816,925 shares of company stock worth $215,448,358. Company insiders own 9.23% of the company's stock.

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.