Diversify Wealth Management LLC Raises Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Diversify Wealth Management LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 20.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 13,953 shares of the company’s stock after acquiring an additional 2,373 shares during the quarter. Diversify Wealth Management LLC’s holdings in Palantir Technologies were worth $1,178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its position in Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock valued at $4,191,000 after purchasing an additional 6,479 shares in the last quarter. Pitcairn Co. purchased a new stake in Palantir Technologies during the fourth quarter valued at about $281,000. Sagespring Wealth Partners LLC raised 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 valued at $2,030,000 after purchasing an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Palantir Technologies during the fourth quarter valued at about $52,033,000. Finally, CX Institutional purchased a new stake in Palantir Technologies during the first quarter valued at about $62,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $142.10 on Friday. The business’s fifty day moving average price is $130.81 and its 200-day moving average price is $103.66. The stock has a market capitalization of $335.34 billion, a price-to-earnings ratio of 617.83, a PEG ratio of 12.16 and a beta of 2.59. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company’s revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLTR. Mizuho lifted their price objective on Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a report on Wednesday, June 11th. Citigroup lifted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Royal Bank Of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $89.32.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider owned 495,497 shares in the company, valued at $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,452,297 shares of company stock valued at $186,222,373 in the last ninety days. Corporate 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.