Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Wedbush Securities Inc.

Wedbush Securities Inc. boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 30.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,052 shares of the company’s stock after buying an additional 53,470 shares during the period. Palantir Technologies accounts for approximately 0.7% of Wedbush Securities Inc.’s portfolio, making the stock its 17th biggest holding. Wedbush Securities Inc.’s holdings in Palantir Technologies were worth $19,416,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% in 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 during the period. Wellington Management Group LLP increased its holdings in shares of Palantir Technologies by 504.0% in 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 during the period. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors acquired a new position in Palantir Technologies during the fourth quarter worth $253,816,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Down 1.8%

PLTR stock opened at $149.07 on Wednesday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $155.68. The firm has a market cap of $351.79 billion, a P/E ratio of 648.13, a P/E/G ratio of 12.96 and a beta of 2.59. The business’s 50 day moving average is $134.33 and its 200-day moving average is $106.57.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly 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 analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PLTR shares. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a “buy” rating in a research report on Thursday, June 12th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price on the stock. Finally, Citigroup boosted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $91.37.

Insider Activity

In related news, insider Ryan D. Taylor sold 35,480 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the sale, the insider owned 367,691 shares of the company’s stock, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 309,696 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 $39,142,477.44. Following the transaction, the insider owned 592 shares of the company’s stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,485,632 shares of company stock worth $191,222,623. 12.93% of the stock is 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.