Smallwood Wealth Investment Management LLC Buys Shares of 2,425 Palantir Technologies Inc. (NASDAQ:PLTR)

Smallwood Wealth Investment Management LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, according to its most recent filing with the SEC. The firm purchased 2,425 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors have also modified their holdings of PLTR. Assenagon Asset Management S.A. increased its stake in shares of Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock worth $4,191,000 after purchasing an additional 6,479 shares in the last quarter. Pitcairn Co. acquired a new stake in Palantir Technologies during the 4th quarter valued at $281,000. Sagespring Wealth Partners LLC increased its position in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company’s stock worth $2,030,000 after buying an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Palantir Technologies in the fourth quarter worth $52,033,000. Finally, CX Institutional purchased a new stake in shares of Palantir Technologies in the first quarter valued at $62,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, insider David A. Glazer sold 30,812 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares of the company’s stock, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider owned 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,408,748 shares of company stock worth $180,327,603 over the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $136.32 on Tuesday. The firm has a market capitalization of $321.70 billion, a PE ratio of 592.70, a price-to-earnings-growth ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22. The stock’s 50 day moving average price is $126.15 and its 200 day moving average price is $100.23.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 earnings per share. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on PLTR shares. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Mizuho lifted their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a report on Wednesday, June 11th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the company a “buy” rating in a research report on Thursday, June 12th. Finally, William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.32.

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.