Destiny Wealth Partners LLC Buys 4,915 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Destiny Wealth Partners LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 11.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 47,665 shares of the company’s stock after acquiring an additional 4,915 shares during the period. Destiny Wealth Partners LLC’s holdings in Palantir Technologies were worth $4,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Norges Bank bought a new stake in shares of Palantir Technologies during the fourth quarter valued at about $1,360,191,000. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the period. Wellington Management Group LLP increased its position in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after buying an additional 3,907,022 shares during the period. Invesco Ltd. increased its position in shares of Palantir Technologies by 31.2% during the fourth 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. Finally, Capital World Investors bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Alexander C. Karp sold 358,982 shares of the firm’s stock in a transaction on 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 owns 6,432,258 shares of the company’s stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total value of $106,625,000.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $50,497.60. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,894,925 shares of company stock valued at $369,820,528. 9.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PLTR. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Mizuho upped their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Finally, DA Davidson upped their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $83.95.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $127.72 on Monday. The firm has a market cap of $301.41 billion, a PE ratio of 672.25, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The business has a 50 day moving average price of $110.01 and a 200-day moving average price of $92.58.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The firm 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 6.85% and a net margin of 16.13%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.