Nearwater Capital Markets Ltd Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Nearwater Capital Markets Ltd bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 380,270 shares of the company's stock, valued at approximately $28,760,000.

Other large investors also recently added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. HighMark Wealth Management LLC grew its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $31,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on PLTR shares. Robert W. Baird boosted their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Bank of America increased their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $83.95.

Palantir Technologies Trading Up 8.1%

Shares of PLTR stock opened at $128.10 on Wednesday. The company has a market capitalization of $300.44 billion, a price-to-earnings ratio of 674.25, a PEG ratio of 10.84 and a beta of 2.68. The firm has a 50-day moving average price of $95.75 and a 200 day moving average price of $83.36. Palantir Technologies Inc. has a twelve month low of $20.63 and a twelve month high of $130.60.

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

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Heather A. Planishek purchased 10,000 shares of Palantir Technologies stock in a transaction on Thursday, May 8th. The stock was bought at an average cost of $116.14 per share, with a total value of $1,161,400.00. Following the completion of the acquisition, the insider now owns 58,006 shares in the company, valued at approximately $6,736,816.84. This trade represents a 20.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 2,964,290 shares of company stock valued at $250,504,866 in the last ninety days. Company insiders own 9.23% of the company's stock.

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.

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