Sonora Investment Management Group LLC Purchases 543 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Sonora Investment Management Group LLC boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,086 shares of the company’s stock after acquiring an additional 543 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Palantir Technologies were worth $682,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PLTR. Norges Bank bought a new position in Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC grew its stake 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 worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP grew its stake 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 worth $354,117,000 after buying an additional 3,907,022 shares during the last quarter. Invesco Ltd. grew its stake 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 worth $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors bought a new stake in shares of Palantir Technologies during the fourth quarter worth $253,816,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 0.6%

PLTR stock opened at $132.81 on Wednesday. The firm has a market cap of $313.42 billion, a price-to-earnings ratio of 699.04, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $135.28. The company’s fifty day simple moving average is $111.88 and its 200 day simple moving average is $93.33.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $863.89 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. Research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Buckley sold 1,708 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $215,874.12. Following the transaction, the insider now owns 34,468 shares in the company, valued at $4,356,410.52. This represents a 4.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,661,925 shares of company stock worth $268,580,958. Company insiders own 9.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PLTR shares. Citigroup boosted their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Finally, 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. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $83.95.

About Palantir Technologies

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.