Wise Wealth Partners Buys 3,124 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Wise Wealth Partners increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 103.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,146 shares of the company's stock after acquiring an additional 3,124 shares during the quarter. Palantir Technologies comprises 1.2% of Wise Wealth Partners' holdings, making the stock its 18th largest holding. Wise Wealth Partners' holdings in Palantir Technologies were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at $450,000. NewEdge Wealth LLC boosted its position in Palantir Technologies by 34.8% during the fourth quarter. NewEdge Wealth LLC now owns 19,969 shares of the company's stock valued at $1,510,000 after acquiring an additional 5,152 shares during the last quarter. Flputnam Investment Management Co. boosted its position in Palantir Technologies by 3.4% during the fourth quarter. Flputnam Investment Management Co. now owns 8,686 shares of the company's stock valued at $657,000 after acquiring an additional 287 shares during the last quarter. SVB Wealth LLC acquired a new stake in Palantir Technologies during the 4th quarter worth about $3,051,000. Finally, Fisher Asset Management LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth about $647,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 9.4%

PLTR stock opened at $130.74 on Monday. The firm has a market capitalization of $308.53 billion, a PE ratio of 568.43, a P/E/G ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22. The stock's 50 day moving average is $125.24 and its 200-day moving average is $99.81.

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. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider now directly owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,408,748 shares of company stock valued at $180,327,603 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on PLTR. Loop Capital set a $155.00 target price on Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research report on Wednesday. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Finally, Mizuho increased their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 11th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $89.32.

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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