Investment Partners LTD. Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Investment Partners LTD. increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 24.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,347 shares of the company’s stock after purchasing an additional 1,430 shares during the period. Investment Partners LTD.’s holdings in Palantir Technologies were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC purchased a new stake in Palantir Technologies during the 4th quarter worth $450,000. Assetmark Inc. boosted its position in Palantir Technologies by 46.3% during the 4th quarter. Assetmark Inc. now owns 1,191 shares of the company’s stock worth $90,000 after purchasing an additional 377 shares during the period. Proficio Capital Partners LLC purchased a new stake in Palantir Technologies during the 4th quarter worth $522,000. Cullen Frost Bankers Inc. boosted its position in Palantir Technologies by 4,248.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,696 shares of the company’s stock worth $128,000 after purchasing an additional 1,657 shares during the period. Finally, Andra AP fonden purchased a new stake in Palantir Technologies during the 4th quarter worth $454,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 34,357 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.96, for a total value of $4,327,607.72. Following the completion of the transaction, the insider owned 592 shares in the company, valued at approximately $74,568.32. This represents a 98.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric H. Woersching sold 10,214 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the transaction, the director owned 2,348 shares of the company’s stock, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,451,497 shares of company stock valued at $186,110,685 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 3.5%

PLTR opened at $139.12 on Tuesday. The firm has a market cap of $328.31 billion, a price-to-earnings ratio of 604.87, a price-to-earnings-growth ratio of 11.47 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22. The company’s 50-day moving average price is $128.96 and its 200 day moving average price is $102.29.

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, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report 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 report on Thursday, June 12th. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. DA Davidson boosted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.32.

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.