3,578 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Worth Asset Management LLC

Worth Asset Management LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 3,578 shares of the company's stock, valued at approximately $302,000.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp grew its position in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at about $1,360,191,000. FMR LLC boosted its position in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after buying an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Alexandra W. Schiff sold 6,776 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the transaction, the director now owns 184,617 shares of the company's stock, valued at $15,993,370.71. This represents a 3.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,901,701 shares of company stock worth $370,407,533. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock traded up $1.13 on Tuesday, hitting $133.17. The company had a trading volume of 90,937,653 shares, compared to its average volume of 79,011,232. The firm has a market cap of $314.27 billion, a P/E ratio of 700.93, a P/E/G ratio of 10.84 and a beta of 2.64. The stock's 50-day moving average is $106.69 and its two-hundred day moving average is $90.74. Palantir Technologies Inc. has a twelve month low of $21.01 and a twelve month high of $135.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm's revenue was up 39.4% on a year-over-year basis. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several analyst reports. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. DA Davidson increased their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Five investment 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's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $83.95.

Palantir Technologies Company 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.