Palantir Technologies Inc. (NASDAQ:PLTR) Stake Raised by True Wealth Design LLC

True Wealth Design LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 503 shares of the company’s stock after acquiring an additional 114 shares during the period. True Wealth Design LLC’s holdings in Palantir Technologies were worth $38,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mather Group LLC. increased its holdings in shares of Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after acquiring an additional 448 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Palantir Technologies during the 4th quarter valued at about $876,000. Destiny Wealth Partners LLC acquired a new position in shares of Palantir Technologies during the 4th quarter valued at about $3,233,000. Grange Capital LLC acquired a new position in shares of Palantir Technologies during the 4th quarter valued at about $5,829,000. Finally, Lake Street Private Wealth LLC acquired a new position in shares of Palantir Technologies during the 4th quarter valued at about $527,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 1.1%

Shares of PLTR stock opened at $129.52 on Friday. The stock has a 50 day moving average of $98.72 and a two-hundred day moving average of $85.13. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49. The company has a market capitalization of $303.77 billion, a P/E ratio of 681.72, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PLTR shares. DA Davidson increased their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Robert W. Baird increased their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.95.

Insider Buying and Selling

In related news, insider Heather A. Planishek bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average price of $116.14 per share, for a total transaction of $1,161,400.00. Following the transaction, the insider now directly owns 58,006 shares of the company’s stock, valued at $6,736,816.84. This represents a 20.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares of the company’s stock, valued at $64,958,509.98. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,964,290 shares of company stock worth $250,504,866 in the last 90 days. 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.