Independent Wealth Network Inc. Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Independent Wealth Network Inc. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,865 shares of the company’s stock after purchasing an additional 419 shares during the period. Independent Wealth Network Inc.’s holdings in Palantir Technologies were worth $1,845,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $253,816,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Mizuho upgraded Palantir Technologies from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $116.00 to $135.00 in a research report on Wednesday. Royal Bank Of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Daiwa Capital Markets started coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. Morgan Stanley lifted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $91.37.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $153.99 on Friday. The stock has a market cap of $363.40 billion, a PE ratio of 669.52, a price-to-earnings-growth ratio of 12.88 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $155.68. The stock has a fifty day moving average of $133.61 and a 200 day moving average of $105.61.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $883.86 million during 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%. Palantir Technologies’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 33,335 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total value of $5,000,250.00. Following the completion of the transaction, the insider owned 363,755 shares of the company’s stock, valued at $54,563,250. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $1,337,523.30. Following the completion of the transaction, the director directly 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 a total of 1,485,632 shares of company stock valued at $191,222,623 in the last ninety days. 9.23% of the stock is currently owned by company insiders.

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.