West Paces Advisors Inc. Boosts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

West Paces Advisors Inc. increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 25.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,012 shares of the company’s stock after buying an additional 412 shares during the quarter. West Paces Advisors Inc.’s holdings in Palantir Technologies were worth $170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp raised its stake in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the period. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. FMR LLC raised its stake in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares during the period. Finally, Invesco Ltd. raised its stake in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PLTR shares. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Citigroup raised 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. Royal Bank of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Cantor Fitzgerald lifted their price objective 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. Finally, UBS Group lifted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $83.95.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction 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 $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the insider now directly owns 592 shares of the company’s stock, valued at $50,497.60. The trade was 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 valued at $369,820,528 over the last three months. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $132.06 on Tuesday. The company’s fifty day moving average is $110.90 and its 200 day moving average is $93.06. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The stock has a market capitalization of $311.65 billion, a PE ratio of 695.09, a P/E/G ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. Palantir Technologies’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies 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.