Foundations Investment Advisors LLC Raises Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Foundations Investment Advisors LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.8% during the first quarter, Holdings Channel reports. The firm owned 72,082 shares of the company’s stock after buying an additional 3,277 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Palantir Technologies were worth $6,084,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its stake in shares of Palantir Technologies by 15.0% in the 1st 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 during the period. Garrison Bradford & Associates Inc. purchased a new stake in shares of Palantir Technologies in the 1st quarter worth about $45,000. Pitcairn Co. purchased a new stake in shares of Palantir Technologies in the 4th quarter worth about $281,000. TCW Group Inc. grew its position in shares of Palantir Technologies by 14.5% in the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company’s stock worth $2,703,000 after buying an additional 4,068 shares during the period. Finally, Sagespring Wealth Partners LLC grew its position in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company’s stock worth $2,030,000 after buying an additional 6,405 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 30,812 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the sale, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock valued at $191,222,623 in the last ninety days. Corporate insiders own 9.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. DA Davidson upped their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a “buy” rating in a research report on Thursday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $95.30.

Palantir Technologies Stock Down 0.6%

Shares of NASDAQ PLTR opened at $157.88 on Tuesday. The firm’s 50-day moving average price is $137.66 and its 200-day moving average price is $110.05. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $160.39. The company has a market cap of $372.58 billion, a PE ratio of 686.43, a PEG ratio of 13.54 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last issued 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. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the prior year, the business earned $0.08 EPS. The business’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.