Simplicity Wealth LLC Invests $1.24 Million in Palantir Technologies Inc. (NYSE:PLTR)

Simplicity Wealth LLC bought a new stake in Palantir Technologies Inc. (NYSE:PLTR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 53,883 shares of the company's stock, valued at approximately $1,240,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Palantir Technologies by 11.1% in the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company's stock valued at $2,997,419,000 after acquiring an additional 18,756,392 shares during the period. Morgan Stanley lifted its position in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company's stock valued at $361,833,000 after acquiring an additional 4,675,824 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd grew its holdings in shares of Palantir Technologies by 314.7% during the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company's stock valued at $84,571,000 after buying an additional 4,011,100 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Palantir Technologies in the third quarter worth approximately $55,719,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Palantir Technologies by 1,784.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company's stock worth $49,720,000 after purchasing an additional 2,742,071 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, Director Peter Thiel sold 5,000,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total value of $103,900,000.00. Following the transaction, the director now directly owns 15,733,625 shares of the company's stock, valued at $326,944,727.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $23.57, for a total transaction of $1,178,500.00. Following the transaction, the insider now directly owns 752,786 shares of the company's stock, valued at $17,743,166.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter Thiel sold 5,000,000 shares of Palantir Technologies stock in a transaction on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the sale, the director now directly owns 15,733,625 shares of the company's stock, valued at $326,944,727.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,449,417 shares of company stock valued at $415,467,436. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent research reports. Jefferies Financial Group raised Palantir Technologies from an "underperform" rating to a "hold" rating and raised their price target for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. HSBC upped their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Tuesday, May 7th. Royal Bank of Canada raised their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an "underperform" rating in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $18.00 to $20.00 and gave the stock a "sell" rating in a report on Tuesday, May 7th. Finally, Bank of America upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $20.65.

Palantir Technologies Trading Down 1.8 %

PLTR stock traded down $0.39 during mid-day trading on Tuesday, hitting $21.24. 27,840,867 shares of the company were exchanged, compared to its average volume of 61,591,621. The stock has a market capitalization of $47.29 billion, a PE ratio of 176.97, a price-to-earnings-growth ratio of 4.97 and a beta of 2.76. Palantir Technologies Inc. has a 1-year low of $11.39 and a 1-year high of $27.50. The business has a 50 day simple moving average of $22.59 and a 200-day simple moving average of $20.72.

Palantir Technologies Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

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