LVW Advisors LLC Increases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

LVW Advisors LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 130.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 11,250 shares of the company’s stock after buying an additional 6,358 shares during the period. LVW Advisors LLC’s holdings in Palantir Technologies were worth $950,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Continuum Advisory LLC lifted its position in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after buying an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA raised its stake in Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares during the period. True Wealth Design LLC raised its stake in Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after acquiring an additional 114 shares during the period. Westover Capital Advisors LLC lifted its holdings in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares during the last quarter. Finally, Tritonpoint Wealth LLC boosted its position in Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PLTR shares. Cantor Fitzgerald boosted their price target 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. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group raised their price objective 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. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.95.

Palantir Technologies Trading Up 3.5%

PLTR opened at $126.63 on Monday. The stock has a market capitalization of $298.84 billion, a P/E ratio of 666.51, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 12-month low of $21.01 and a 12-month high of $133.49. The stock has a 50-day moving average price of $105.90 and a 200-day moving average price of $90.28.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same period last year, the business earned $0.08 earnings per share. The business’s quarterly revenue was up 39.4% on a year-over-year basis. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at $48,988. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares of the company’s stock, valued at $15,993,370.71. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,901,701 shares of company stock worth $370,407,533 over the last three months. Company insiders own 9.23% 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.