Crown Wealth Group LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

by · The Cerbat Gem

Crown Wealth Group LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) in the 1st quarter, Holdings Channel.com reports. The fund bought 3,913 shares of the company’s stock, valued at approximately $330,000.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock worth $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Pitcairn Co. bought a new stake in Palantir Technologies in the fourth quarter worth approximately $281,000. Sagespring Wealth Partners LLC boosted its holdings in shares of Palantir Technologies by 36.3% during 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. KLP Kapitalforvaltning AS bought a new stake in shares of Palantir Technologies during the 4th quarter worth $52,033,000. Finally, CX Institutional bought a new stake in shares of Palantir Technologies during the 1st quarter worth $62,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $130.74 on Friday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The stock has a market cap of $308.53 billion, a price-to-earnings ratio of 568.43, a P/E/G ratio of 11.16 and a beta of 2.64. The firm has a fifty day moving average of $125.24 and a 200-day moving average of $99.62.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) 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 company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the prior year, the company posted $0.08 EPS. The business’s revenue was up 39.4% on a year-over-year basis. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent analyst reports. Mizuho upped their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a report on Wednesday, June 11th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. UBS Group reaffirmed a “positive” rating on shares of Palantir Technologies in a report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a “buy” rating in a report on Thursday, June 12th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $89.32.

Check Out Our Latest Stock Analysis on PLTR

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $74,822.88. This trade represents a 99.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares of the company’s stock, valued at $33,382,558.80. The trade was a 19.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 in the last quarter. 9.23% of the stock is owned by corporate insiders.

About Palantir Technologies

(Free Report)

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.

Further Reading

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