59,114 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Congress Asset Management Co.

Congress Asset Management Co. bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 59,114 shares of the company’s stock, valued at approximately $4,989,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $27,000. HighMark Wealth Management LLC lifted its position in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Sierra Ocean LLC bought a new stake in Palantir Technologies in the fourth quarter worth $31,000. First Command Advisory Services Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter worth $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $34,000. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the transaction, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. The trade was a 19.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $50,497.60. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,894,925 shares of company stock worth $369,820,528 over the last three months. Company insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PLTR. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Mizuho boosted their price target on Palantir Technologies from $80.00 to $94.00 and gave the company an “underperform” rating in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Finally, UBS Group upped their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $83.95.

Palantir Technologies Stock Up 6.5%

Shares of PLTR opened at $127.72 on Monday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $135.28. The firm has a market capitalization of $301.41 billion, a price-to-earnings ratio of 672.25, a P/E/G ratio of 10.84 and a beta of 2.64. The stock’s 50-day moving average price is $110.01 and its 200 day moving average price is $92.58.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting 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 return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. Equities research analysts expect 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.