SMART Wealth LLC Invests $980,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

SMART Wealth LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,606 shares of the company’s stock, valued at approximately $980,000.

A number of other large investors have also modified their holdings of the business. Richardson Capital Management LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at $33,000. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $34,000. Fairfield Financial Advisors LTD acquired a new position in shares of Palantir Technologies during the 4th quarter worth approximately $35,000. Godsey & Gibb Inc. lifted its stake in Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock valued at $35,000 after buying an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Palantir Technologies during the 4th quarter valued at $36,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the sale, the insider directly owned 367,691 shares of the company’s stock, valued at approximately $46,472,465.49. This represents a 8.80% decrease in their position. The sale was disclosed in a document filed 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 dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,451,497 shares of company stock worth $186,110,685. Corporate insiders own 9.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. UBS Group reissued a “positive” rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Mizuho raised their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 11th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target for the company. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.32.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $134.27 on Friday. The stock has a 50-day simple moving average of $128.04 and a 200-day simple moving average of $101.06. The stock has a market capitalization of $316.85 billion, a P/E ratio of 583.76, a PEG ratio of 11.28 and a beta of 2.59. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $148.22.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates 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 period in the previous year, the company posted $0.08 earnings per share. Palantir Technologies’s revenue was up 39.4% compared to the same quarter last year. Analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies 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.