Rockline Wealth Management LLC Grows Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Rockline Wealth Management LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 26.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 111,233 shares of the company’s stock after acquiring an additional 23,204 shares during the quarter. Palantir Technologies makes up approximately 2.6% of Rockline Wealth Management LLC’s portfolio, making the stock its 6th biggest position. Rockline Wealth Management LLC’s holdings in Palantir Technologies were worth $9,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. First Command Advisory Services Inc. acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. Summit Securities Group LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. Fairfield Financial Advisors LTD acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $35,000. Godsey & Gibb Inc. boosted its stake in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock valued at $35,000 after acquiring an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $36,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PLTR shares. Royal Bank Of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a “buy” rating in a research note on Thursday, June 12th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. Mizuho lifted their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 11th. Finally, The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.32.

Palantir Technologies Stock Performance

PLTR opened at $137.30 on Friday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86. The company has a fifty day moving average of $120.65 and a two-hundred day moving average of $97.09. The stock has a market capitalization of $324.02 billion, a price-to-earnings ratio of 596.96, a PEG ratio of 11.95 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares of the company’s stock, valued at approximately $33,382,558.80. The trade was a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather A. Planishek acquired 10,000 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was purchased at an average cost of $116.14 per share, with a total value of $1,161,400.00. Following the acquisition, the insider now directly owns 58,006 shares of the company’s stock, valued at $6,736,816.84. This represents a 20.83% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,506,925 shares of company stock valued at $188,456,658. Corporate insiders own 9.23% of the company’s stock.

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.