Williams Jones Wealth Management LLC. Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Williams Jones Wealth Management LLC. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,263 shares of the company's stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLTR. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies in the fourth quarter worth $28,000. HighMark Wealth Management LLC grew its stake in 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 period. Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $31,000. Finally, R Squared Ltd purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $33,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 4.0%

Shares of NASDAQ:PLTR opened at $120.58 on Thursday. The company has a 50 day moving average of $101.18 and a 200 day moving average of $86.53. The stock has a market cap of $282.80 billion, a P/E ratio of 634.66, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the business earned $0.08 EPS. The business's revenue for the quarter was up 39.4% on a year-over-year basis. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. Mizuho boosted their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a report on Tuesday, May 6th. 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. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. UBS Group lifted their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $83.95.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares of the company's stock, valued at $64,958,509.98. This represents a 4.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction 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 sale, the insider now directly owns 592 shares of the company's stock, valued at $48,988. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,945,753 shares of company stock valued at $248,608,160 over the last three months. 9.23% of the stock is owned by corporate insiders.

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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