WealthPLAN Partners LLC Purchases New Position in Palantir Technologies Inc. (NYSE:PLTR)

WealthPLAN Partners LLC purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,610 shares of the company’s stock, valued at approximately $319,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares in the last quarter. SG Americas Securities LLC raised its position in Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after acquiring an additional 102,479 shares during the period. Accel Wealth Management purchased a new position in Palantir Technologies during the first quarter valued at $360,000. Panagora Asset Management Inc. lifted its holdings in Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after purchasing an additional 49,839 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $262,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research reports. Citigroup raised their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Bank of America raised their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Finally, Northland Securities assumed coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.79.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $36.48 on Wednesday. The company has a market capitalization of $81.70 billion, a P/E ratio of 304.03, a P/E/G ratio of 6.16 and a beta of 2.72. The company has a 50 day simple moving average of $30.04 and a 200-day simple moving average of $25.66. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.05.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. As a group, research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Eric H. Woersching sold 3,026 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the transaction, the director now owns 29,817 shares of the company’s stock, valued at $834,876. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. The disclosure for this sale can be found here. Insiders sold a total of 5,377,238 shares of company stock valued at $190,013,572 over the last 90 days. 12.93% of the stock is owned by company insiders.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.