24,825 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by Vivid Wealth Management LLC

Vivid Wealth Management LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 24,825 shares of the company’s stock, valued at approximately $2,095,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted 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 last quarter. Northern Trust Corp boosted 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 last quarter. Norges Bank bought a new position in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. FMR LLC boosted 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 last quarter. Finally, Invesco Ltd. boosted 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 last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. DA Davidson lifted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Daiwa America raised shares of 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 research note on Tuesday, May 6th. Morgan Stanley lifted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note 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 given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $86.30.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $141.41 on Tuesday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $144.86. The stock’s 50-day simple moving average is $116.76 and its 200 day simple moving average is $95.53. The stock has a market capitalization of $333.72 billion, a P/E ratio of 744.30, a P/E/G ratio of 10.84 and a beta of 2.64.

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

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,506,925 shares of company stock worth $188,456,658. Company insiders own 9.23% of the company’s stock.

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.