Watershed Private Wealth LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Watershed Private Wealth LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,448 shares of the company’s stock, valued at approximately $375,000.

Several other large investors have also bought and sold shares of PLTR. TrueWealth Advisors LLC lifted its stake in shares of Palantir Technologies by 4.0% in the 1st quarter. TrueWealth Advisors LLC now owns 8,006 shares of the company’s stock valued at $676,000 after purchasing an additional 305 shares during the period. Kure Advisory LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth $266,000. Spring Capital Management LLC bought a new stake in Palantir Technologies in the first quarter valued at about $211,000. RFG Advisory LLC increased its holdings in Palantir Technologies by 74.7% in the first quarter. RFG Advisory LLC now owns 18,107 shares of the company’s stock valued at $1,528,000 after purchasing an additional 7,742 shares during the last quarter. Finally, Capital Asset Advisory Services LLC lifted its stake in Palantir Technologies by 13.7% in the first quarter. Capital Asset Advisory Services LLC now owns 5,503 shares of the company’s stock valued at $481,000 after buying an additional 665 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 0.9%

NASDAQ PLTR opened at $133.17 on Wednesday. The firm’s 50 day moving average is $107.55 and its 200-day moving average is $91.04. The company has a market capitalization of $314.27 billion, a PE ratio of 700.93, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.04 and a 12-month high of $135.28.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) 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 period in the previous year, the business earned $0.08 EPS. The company’s revenue was up 39.4% compared to the same quarter last year. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price for the company. Loop Capital lifted their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. DA Davidson upped their price objective 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. Finally, Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.95.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 39,825 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $50,497.60. This trade represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,894,925 shares of company stock valued at $369,820,528. 9.23% of the stock is owned by insiders.

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.