NorthRock Partners LLC Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

NorthRock Partners LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 26,913 shares of the company's stock, valued at approximately $2,035,000.

Several other large investors have also recently added to or reduced their stakes in PLTR. Capital Investment Advisors LLC increased its holdings in Palantir Technologies by 18.4% in the 4th quarter. Capital Investment Advisors LLC now owns 16,263 shares of the company's stock valued at $1,230,000 after purchasing an additional 2,526 shares in the last quarter. Cooper Financial Group acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $206,000. Pallas Capital Advisors LLC grew its stake in shares of Palantir Technologies by 50.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 8,040 shares of the company's stock valued at $608,000 after acquiring an additional 2,698 shares in the last quarter. Marcum Wealth LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $229,000. Finally, PSI Advisors LLC grew its stake in shares of Palantir Technologies by 99.7% during the fourth quarter. PSI Advisors LLC now owns 795 shares of the company's stock valued at $60,000 after acquiring an additional 397 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PLTR shares. Bank of America raised their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Cantor Fitzgerald raised their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Citigroup raised their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Daiwa Capital Markets started coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Finally, DA Davidson lifted their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note 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's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $83.95.

Palantir Technologies Stock Up 1.6%

Shares of NASDAQ PLTR opened at $130.18 on Thursday. The firm's 50-day moving average price is $96.65 and its two-hundred day moving average price is $83.69. Palantir Technologies Inc. has a 52-week low of $20.63 and a 52-week high of $133.49. The stock has a market capitalization of $305.32 billion, a P/E ratio of 685.19, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the company posted $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek purchased 10,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $116.14 per share, for a total transaction of $1,161,400.00. Following the acquisition, the insider now owns 58,006 shares of the company's stock, valued at approximately $6,736,816.84. The trade was a 20.83% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 2,964,290 shares of company stock valued at $250,504,866 over the last quarter. Insiders own 12.93% 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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