Private Wealth Management Group LLC Has $5.02 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Private Wealth Management Group LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 23.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,437 shares of the company’s stock after selling 18,496 shares during the quarter. Palantir Technologies comprises 1.9% of Private Wealth Management Group LLC’s investment portfolio, making the stock its 16th largest holding. Private Wealth Management Group LLC’s holdings in Palantir Technologies were worth $5,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PLTR. Victory Capital Management Inc. boosted its position in shares of Palantir Technologies by 7.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,836,547 shares of the company’s stock valued at $155,005,000 after acquiring an additional 131,137 shares in the last quarter. BIP Wealth LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at $263,000. Bridgewater Advisors Inc. acquired a new stake in shares of Palantir Technologies in the first quarter valued at $924,000. PAX Financial Group LLC increased its stake in shares of Palantir Technologies by 11.2% in the first quarter. PAX Financial Group LLC now owns 3,738 shares of the company’s stock valued at $315,000 after buying an additional 375 shares in the last quarter. Finally, West Family Investments Inc. increased its stake in shares of Palantir Technologies by 17.6% in the first quarter. West Family Investments Inc. now owns 5,845 shares of the company’s stock valued at $493,000 after buying an additional 876 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 0.4%

Shares of PLTR opened at $148.58 on Wednesday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $150.62. The business’s fifty day moving average is $132.11 and its 200 day moving average is $104.76. The stock has a market cap of $350.64 billion, a P/E ratio of 646.00, a P/E/G ratio of 12.73 and a beta of 2.59.

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

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent analyst reports. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a “buy” rating in a research note on Thursday, June 12th. Mizuho increased 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. UBS Group reaffirmed a “positive” rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Wedbush set a $160.00 target price on shares of Palantir Technologies in a research note on Thursday, July 10th. Finally, DA Davidson upped their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $90.37.

Insider Buying and Selling

In related news, insider David A. Glazer sold 3,418 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares in the company, valued at $61,987,191.63. The trade was a 0.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the completion of the sale, the insider owned 363,755 shares of the company’s stock, valued at $49,219,689.05. The trade was a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,452,297 shares of company stock worth $186,222,373 in the last quarter. 12.93% of the stock is currently owned by company insiders.

About Palantir Technologies

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.