Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 7.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 49,996 shares of the company’s stock after buying an additional 3,602 shares during the period. HBK Sorce Advisory LLC’s holdings in Palantir Technologies were worth $4,220,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $450,000. TCW Group Inc. raised its holdings in shares of Palantir Technologies by 2.6% in the 4th quarter. TCW Group Inc. now owns 27,963 shares of the company’s stock valued at $2,115,000 after purchasing an additional 708 shares in the last quarter. WealthShield Partners LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $283,000. Crestwood Advisors Group LLC raised its holdings in shares of Palantir Technologies by 113.1% in the 4th quarter. Crestwood Advisors Group LLC now owns 11,642 shares of the company’s stock valued at $880,000 after purchasing an additional 6,178 shares in the last quarter. Finally, Rothschild Investment LLC raised its holdings in shares of Palantir Technologies by 22.9% in the 4th quarter. Rothschild Investment LLC now owns 8,454 shares of the company’s stock valued at $639,000 after purchasing an additional 1,573 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 2.4%

Shares of NASDAQ:PLTR opened at $143.23 on Wednesday. The company has a market cap of $338.01 billion, a price-to-earnings ratio of 622.74, a PEG ratio of 11.94 and a beta of 2.64. The firm’s 50-day simple moving average is $122.49 and its 200-day simple moving average is $98.22. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86.

Palantir Technologies (NASDAQ:PLTR) last issued 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 business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Citigroup increased their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research report 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. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $89.32.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares of the company’s stock, valued at $33,382,558.80. The trade was a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 over the last 90 days. Company insiders own 12.93% of the company’s stock.

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.